Press Releases

Final CFPB Rule Set to Save $5 Billion Annually, Despite Industry Opposition

Junk Fees
December 12, 2024

As part of the Biden administration’s ongoing efforts to lower costs for American families, the Consumer Financial Protection Bureau (CFPB) today announced its final overdraft rule, capping overdraft fees charged by banks and credit unions to as low as $5. The final rule is expected to save $5 billion in annual overdraft fees, roughly $225

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