JD Supra12h
Leaning In: The CFPB Publishes Rule on Fees for Overdraft Services
On December 30, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule that may dramatically change the way that certain ...
Biden administration bars medical debt from credit scores
The rules ban credit agencies from including medical debts on consumers’ credit reports and prohibit lenders from considering ...
Hosted on MSN2dOpinion
‘Government Overreach’: Liz Warren’s Favorite Agency Just Granted Itself New Powers To Regulate Checking Accounts
The lame duck Biden administration’s Consumer Financial Protection Bureau (CFPB) issued a rule in December to curb overdraft ...
The Biden Administration is ‘cracking down’ on banks by imposing a $5 cap on overdraft fees, says Americans could save billions in ‘excessive junk fees.’ Will Trum…
Overdraft transaction charges could drop to a maximum of $5 from the current ceiling of $35 as of Oct. 1, 2025, if the ...
The Grio16d
The White House is cracking down on overdraft fees
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 ...
American Banker20d
Five trends to keep in mind as overdraft-fee battles heat up
there is no question that the overdraft picture has evolved markedly from four years ago. At the time, the new Biden administration seemed poised to crack down on the fees. Many banks had recently ...
USA Today22d
Consumers could see a $5 overdraft fee in 2025 under a final rule — or maybe, not
About 23 million households pay overdraft fees in any given year ... But we're in the final days of the Biden administration, and many consumer advocates expect weaker consumer safeguards and ...
WGN-TV23d
$5 cap on overdrafts finalized by Biden Administration: Will it actually happen?
(NEXSTAR) – A new federal rule would cap overdraft fees at $5 beginning late next year. That would be a big drop from the 2023 average of $26, but the policy still faces legal and potential ...
AOL23d
Tired of overdraft fees? A new Biden administration rule would cap them.
The Biden administration announced the crackdown on overdraft fees in January as part of a larger crusade against excessive fees in the banking industry. “For too long, some banks have charged ...
Yahoo Finance24d
Tired of overdraft fees? A new Biden administration rule would cap them.
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 North Bay Business Journal24d
Overdraft fees would be slashed under new Biden administration rule. What you need to know
That protection comes at a price, though, in the form of overdraft fees of about $27 each time ... bureau should have held off until the Trump administration takes over. In former President ...
Santa Rosa Press Democrat24d
Overdraft fees would be slashed under new Biden administration rule. What you need to know
The CFPB rule is one of several efforts by the Biden administration to attack the ... generate more than half their net income from overdraft fees. Consumer advocates have been pushing for limits ...