Biden administration overdraft rule caps bank and credit union fees at $5

The rule closes a loophole that exempted overdraft fees from lending laws, but is expected to face challenges.

Topics

New Federal Rule Limits Overdraft Fees at Large Banks

It is unclear whether the rule, which could help save Americans billions in fees each year, will remain in place after President-elect Donald J. Trump returns to office.
The New York Times - 4h
CFPB announces rule limiting bank overdraft fees

The CFPB says the rule will save American consumers $5 billion annually.
CNBC - 5h
Consumer Finance Watchdog Caps Overdraft Fees as Banks Object

The CFPB caps fees at $5 per overdraft notice, saying banks have turned added fees into a profit center.
Inc. - 6h
What’s next for banks amid noise around new overdraft-fee cap

Consumer groups applauded the move, but banks said customers could be driven toward more expensive options such as payday loans.
MarketWatch - 2h
CFPB announces rule limiting bank overdraft fees

The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees.
NBC News - 5h
5 unnecessary credit card fees to stop paying before 2025

By getting rid of these fees now, before the new year rolls around, you can free up funds for other priorities.
CBS News - 1d
German union boss urges Berlin to scrap borrowing cap to safeguard economy

IG Metall chair Christiane Benner addresses thousands of VW workers striking over planned closure of several plants
Financial Times - 2d
Airline passengers would get paid for delays under rules considered by Biden administration

The Biden administration is considering new rules that would require airlines to pay passengers for significant delays within a carrier’s control.
NBC News - Dec. 5
Why Rules On Data Scammers and Credit Card Fees May Be the Consumer Financial Protection Bureau’s Swansong

The CFPB is meant to act in the best interest of the American consumer, but powerful corporate opposition and the ire of Elon Musk may mean a dicey future for the agency.
Inc. - Dec. 4

Biden administration overdraft rule caps bank and credit union fees at $5

Topics

Related

New Federal Rule Limits Overdraft Fees at Large Banks

CFPB announces rule limiting bank overdraft fees

Consumer Finance Watchdog Caps Overdraft Fees as Banks Object

What’s next for banks amid noise around new overdraft-fee cap

CFPB announces rule limiting bank overdraft fees

5 unnecessary credit card fees to stop paying before 2025

German union boss urges Berlin to scrap borrowing cap to safeguard economy

Airline passengers would get paid for delays under rules considered by Biden administration

Why Rules On Data Scammers and Credit Card Fees May Be the Consumer Financial Protection Bureau’s Swansong

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