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 ...

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 ...

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 ...

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

That protection comes at a price, though, in the form of overdraft fees of about $27 each time a customer withdraws more than their checking account could bear, Bankrate.com reported in August.

The new year brings a 50-cent raise for California’s minimum wage workers, who will see their base pay increase to $16.50 an ...

One example is the Consumer Financial Protection Bureau’s attempt to redefine checking accounts to make it harder for banks to charge overdraft fees. It’s bad for banks, and especially for ...

On December 12, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the finalization of its rule addressing overdraft fees. The rule targets financial institutions with more than $ ...

Essentially, banks have two options if you overdraft your account: They can charge you the $5, or they must limit fees so that they cover no more than the lender's costs. It can happen even to ...