Biden administration overdraft rule caps bank and credit union fees at $5
The rule closes a loophole that exempted overdraft fees from lending laws, but is expected to face challenges.
Consumers could see a $5 overdraft fee in 2025 under a final rule — or maybe, not
The rule announced Thursday would require big banks and credit unions to slash long criticized high overdraft fees from $25 or $35 in many cases.
Overdraft Fees Could Be Capped At $5 Under New Rule
In what could be one of the final salvoes in President Joe Biden's war on what the administration calls "junk fees," the Consumer Financial Protection Bureau issued a final rule Wednesday capping bank overdraft fees at $5 in most cases.
Tired of overdraft fees? A new Biden administration rule would cap them.
Bank overdraft fees, pricey penalties charged to customers who overdraw their accounts, face a cap under new rules released Thursday.
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,
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.
Overdraft fees would be slashed under new Biden administration rule. What you need to know
In one of its final actions under the Biden administration, the Consumer Financial Protection Bureau issued a long-awaited rule reining in fees banks charge for overdrafts.
What’s next for banks amid noise around new overdraft-fee cap
Consumer groups applauded the move, but banks said customers could be driven toward more expensive options such as payday loans.
Biden Administration Cracks Down on Overdraft Fees
President Joe Biden's administration has finalized a rule that limits overdraft fees banks can charge. The rule, announced on Thursday, places a cap on overdraft fees at $5. Biden has said that overdraft fees,
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