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 ...

The National Credit Union Administration has issued guidance to federal credit unions regarding the consumer harm stemming from certain overdraft ...

An overdraft fee is charged when the bank or credit union covers a deposit account holder’s transaction — a payment, withdrawal, debit or transfer when there is not enough money in that account.

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 ...

The Biden administration finalized a rule that will cap overdraft fees at $5 at the largest banks and credit unions in a move that is expected to save consumers $5 billion a year if it survives ...

In December 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule that closes a loophole exempting overdraft loans ...

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

“Excessive overdraft fees have saddled hardworking Americans ... first announced in January as part of President Joe Biden’s crackdown on junk fees and attempt to bring about more transparency ...