Biden administration unveils proposed changes to big banks' overdraft fees

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Biden administration unveils proposed changes to big banks' overdraft fees

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Biden administration unveils proposed changes to big banks' overdraft fees

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tps8249

Posted on 02-08-24 9:43 AM Reply [Subscribe]

The Consumer Financial Protection Bureau unveiled a highly anticipated rule proposal targeting big banks' overdraft fee practices.

Since 2000, American consumers have paid an estimated $280 billion in bank overdraft fees, according to CFPB data.

"Banks call it a service—I call it exploitation," said President Joe Biden.

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