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The CFPB ordered Regions Bank to pay $191 million to customers in September 2022 for charging “illegal surprise” overdraft fees on “certain ATM withdrawals and debit card purchases ...
An overdraft fee is charged when the bank or credit union covers a deposit account holder’s transaction — a payment, withdrawal, debit or transfer when there is not enough money in that account.
In one of its final actions under the Biden administration, the Consumer Financial Protection Bureau issued a rule reining in bank overdraft fees.
Overdraft transaction charges could drop to a maximum of $5 from the current ceiling of $35 as of Oct. 1, 2025, if the current iteration of the Consumer Financial Protection Bureau (CFPB) gets its ...
Regulators said the rule will generate up to $5 billion in overdraft-fee savings for bank customers a year, or $225 per household that pays the fees. Bank industry leaders warn, however, that the ...
While banks have cut back on overdraft fees in the past decade, the nation’s biggest banks still take in roughly $8 billion in the charges every year, according to data from the CFPB and bank ...
Regions Financial (RF) will pay a $50-million civil monetary penalty and refund customers around $141 million for surprise overdraft fees charged earlier.
The Consumer Financial Protection Bureau finalized a rule that caps overdraft fees. Americans who are charged overdraft fees are now on track to save $225 a year Skip to main content