CFPB Curbs Overdraft Fees

CFPB announces rule limiting bank overdraft fees; trade group sues in response
The Consumer Financial Protection Bureau announced the final version of a rule limiting banks' ability to charge overdraft fees. It says the rule will save American consumers $5 billion annually. The CFPB said its overdraft rule will take effect Oct.
CFPB: Overdraft fee reform will save consumers $5 billion a year in bank fees
Consumers will save up to $5 billion in bank and credit union overdraft fees each year in a reform finalized Thursday by the U.S. Consumer Financial Protection Bureau.
CFPB Orders Big Banks to Limit Overdraft Fees to $5. But Will Its Edict Stick?
The agency set an October 2025 deadline for the new restrictions to take hold, giving enforcement authority to the incoming Trump administration.
CFPB caps overdraft fees at $5 as banks mull options
In a final rule to be released Thursday, the Consumer Financial Protection Bureau would allow banks to either charge $5 for overdraft fees or another amount commensurate with costs. Banks could also charge more if they disclose the fees' annual percentage rate of interest to customers.
CFPB final rule would pin overdraft fee at $5
Banks and credit unions with $10 billion or more in assets could alternately choose a break-even overdraft protection cost or make credit card-like disclosures to consumers, the CFPB said.
New rule limits bank overdraft fees: What to know
The Consumer Financial Protection Bureau said it is limiting banks’ ability to charge overdraft fees, potentially saving households hundreds of dollars.
Biden administration caps bank and credit union overdraft fees at as low as $5
The rule closes a loophole that exempted overdraft fees from lending laws, but is expected to face challenges.
CFPB Finalizes Overdraft Fee Cap Opposed by GOP, Industry
Large US banks will have to cap overdraft fees at $5 — or an amount that covers their costs and losses — under a new consumer protection rule that’s been vigorously opposed by industry and Republicans.
The White House is cracking down on overdraft fees
The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration.
Biden Just Cracked Down On Bank Overdraft Fees, But Trump Could Reverse Course
A new rule from the Consumer Financial Protection Bureau would cap many overdraft fees at just $5. It might not last.
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.
Goodbye Junk Fees, Hello Transparency: CFPB Curbs Overdraft Fees
CFPB’s new rule ends overdraft profits. Big banks must cap fees at $5, use cost-basis or fully disclose terms, saving US ...
Capping Overdraft Fees Will Hurt Some of the People It Is Supposed To Help
If today's announcement by the Consumer Financial Protection Bureau (CFPB) is the final skirmish in the Biden ...
Americans who are charged overdraft fees are now on track to save $225 a year
The Consumer Financial Protection Bureau finalized a rule that caps overdraft fees.