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What final rule says on overdraft fees. Banks would have some options if they didn't charge a maximum $5 overdraft fee under the final rule. But these options might not be attractive to banks, either.
Bank overdraft fees, pricey penalties charged to customers who overdraw their accounts, face a $5 cap under new rules released by federal regulators. The cap on bank overdrafts continues a ...
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 ...
The new CFPB regulation would require large banks and credit unions to either charge just $5 for overdrafts or, alternatively, pick an amount no higher than the cost of offering overdraft protection.
Under the overdraft rule, large banks and credit unions would have three options when setting fees: they could charge an amount based on the cost of the service, including losses from it; they ...
The CFPB finalized a rule that allows banks to cap overdraft fees at $5 or set the fee at an amount that covers losses. The rule, which will take effect in October 2025, is projected to save ...
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 Consumer ...
The rule, unveiled Thursday, would cap overdraft fees at $5 — a substantial savings from the $35 that customers are typically charged. In total, households that pay overdraft fees could save ...