There’s new progress being made on overdraft fees and the government’s efforts ... "While your bank might pick one of the three options the CFPB has suggested, that doesn't mean that they ...

As previously discussed, the CFPB issued a final rule in March 2024, which, among other things, capped credit card late fees charged by “large card issuers” to $8.00. A group of trade ...

Banks have previously sued the CFPB over these rules and caps on credit card late fees. Congress also has the ability to challenge or overturn the rule. The Consumer Bankers Association filed the ...

Here's what you can expect to change and what you should do to take advantage of lower overdraft fees. Compare Today's Banking Offers Who would be affected by the CFPB overdraft final rule?

"The CFPB is cracking down on these excessive junk fees and requiring big banks to come clean about the interest rate they're charging on overdraft loans." Today’s action closes the large bank ...

Related CFPB: Overdraft fee reform will save consumers $5 billion a year in bank fees New CFPB rule aims to make switching banks easier by requiring free release of personal data CFPB proposes ...

Last year, according to the CFPB, banks collected about $5.8 billion worth of fees for overdrafts and non-sufficient funds — that is, when a check bounces or a payment is declined. The arrival ...

The US Consumer Financial Protection Bureau unveiled the final rule Thursday as part of the Biden administration’s campaign against the costs known as junk fees. Under the measure, banks and ...

The CFPB noted in its January proposal that smaller banks and credit unions responsible for one-third of overdrafts would be exempt. One example of a bank that has relied heavily on overdraft fees is ...

Now, with the Consumer Financial Protection Bureau (CFPB) stepping in to close a long-standing regulatory loophole, after studying the overdraft fees issues for a while now, some of the biggest ...

Most U.S. bank stocks dipped in Thursday trading after the Consumer Financial Protection Bureau finalized a rule that essentially caps overdraft fees at $5 per instance. The new rule applies to ...

The Consumer Financial Protection Bureau released a final overdraft rule that caps overdraft fees at $5 for the largest banks. The sweeping rule immediately drew a legal challenge from bank trade ...