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 ...

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 ...

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 Biden administration finalized a rule that will cap overdraft fees at $5 at the largest banks and credit unions in a move that is expected to save consumers $5 billion a year if it survives ...

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 $ ...

The rule, part of the Biden administration's push to reduce junk fees to ease the burden on consumers, caps overdraft fees at $5. President Joe Biden has said that overdraft fees, which can reach ...

This exemption was intended to allow banks to provide limited overdraft services as a courtesy to customers who inadvertently overdrew on their accounts. The Bureau now claims that fees generated ...

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 ...

Last week the Consumer Financial Protection Bureau announced a final rule to curb bank overdraft fees. In a statement to ABC News, Biden said: "Today's announcement builds on work across my ...

Dec. 13 (UPI) --Banking groups said they plan to sue the federal Consumer Financial Protection Bureau for adopting a rule that would limit overdraft fees. The Consumer Bankers Association ...