Behind The Financial Industry’s Rhetoric That Overdraft Fees “Save Customers Money” Is A Much Costlier Reality For Consumers

Economic Security and Corporate Power
September 21, 2022

In January 2022, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save consumers billions of dollars in exploitative “junk fees,” including overdraft fees. In 2019 alone, large banks earned approximately $15.47 billion from overdraft and non-sufficient funds fees.

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