The CFPB, which initially proposed a crackdown on such fees in January, maintains that banks are charging excessive overdraft fees by exploiting a loophole that exempts overdraft lending services ...

Banks call it a service − I call it exploitation' The Biden administration announced the crackdown on overdraft fees in January as part of a larger crusade against excessive fees in the banking ...

President Joe Biden said the fees, which can be as high as $35, are “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place. The Biden ...

That protection comes at a price, though, in the form of overdraft fees of about $27 each time a customer withdraws more than their checking account could bear, Bankrate.com reported in August.

The limit on fees that banks and credit unions impose on clients whose account balances are insufficient to cover transactions would save U.S. consumers $5 billion every year, the federal agency said ...

“If you get hit with a fee for overdrawing your account of $30 or more, that’s a big impact, particularly for people who ...

The new year brings a 50-cent raise for California’s minimum wage workers, who will see their base pay increase to $16.50 an ...

Essentially, banks have two options if you overdraft your account: They can charge you the $5, or they must limit fees so that they cover no more than the lender's costs. It can happen even to ...

By Marilyn Odendahl The Indiana Citizen January 9, 2025 Anti-poverty advocates in Indiana are hoping a new federal rule that ...