Consumer Finance Watchdog Caps Overdraft Fees

Overdraft fees could be capped at $5 under new federal rule
Banking customers could save up to $5 billion per year on overdraft fees under a new rule finalized Thursday by the Consumer Financial Protection Bureau.
Biden administration caps bank and credit union overdraft fees at as low as $5
The rule closes a loophole that exempted overdraft fees from lending laws, but is expected to face challenges.
Consumer Finance Watchdog Caps Overdraft Fees as Banks Object
US watchdog caps bank overdraft fees over industry objection (Reuters) – The U.S. watchdog agency for consumer finance on Thursday adopted new regulations capping the amount banks can charge for overdrafts, saying the rule would save depositors $5 billion annually.
CFPB: Overdraft fee reform will save consumers $5 billion a year in bank fees
Consumers will save up to $5 billion in bank and credit union overdraft fees each year in a reform finalized Thursday by the U.S. Consumer Financial Protection Bureau.
New federal rule limits overdraft fees at large banks
It is unclear whether the rule, which could help save Americans billions in fees each year, will remain in place after President-elect Donald J. Trump returns to office.
Capping Overdraft Fees Will Hurt Some of the People It Is Supposed To Help
If today's announcement by the Consumer Financial Protection Bureau (CFPB) is the final skirmish in the Biden administration's war on so-called "junk
Banks sue CFPB for capping overdraft fees at $5
The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees. Alternatively they can charge a courtesy fee to cover costs, or charge higher fees but send annual percentage rate disclosures to the consumer.
US watchdog caps bank overdraft fees over industry objection
The U.S. watchdog agency for consumer finance on Thursday adopted new regulations capping the amount banks can charge for overdrafts, saying the rule would save depositors $5 billion annually. The new regulation,
Consumer finance watchdog caps bank overdraft fees
Big banks will now have to put a limit of $5 on overdraft fees, the Consumer Financial Protection Bureau said. The consumer finance watchdog's new rule could save customers $5 billion annually, and was part of the campaign against junk fees by the Biden administration.
Consumer protection agency finalizes rule limiting overdraft fees
The Consumer Financial Protection Bureau installed the regulation less than two months before President-elect Donald Trump ...
Overdraft fees to be limited under new federal rule
Under the new policy, banks can choose between one of three options to replace their old overdraft rate, which could have ...
Goodbye Junk Fees, Hello Transparency: CFPB Curbs Overdraft Fees
CFPB’s new rule ends overdraft profits. Big banks must cap fees at $5, use cost-basis or fully disclose terms, saving US ...
CFPB announces rule limiting bank overdraft fees; trade group sues in response
The Consumer Financial Protection Bureau announced the final version of a rule limiting banks' ability to charge overdraft ...