President Joe Biden's administration has finalized a rule that limits overdraft fees banks can charge. The rule, announced on ...

“For far too long, the largest banks have exploited a legal loophole that has drained billions of dollars from Americans’ ...

The Consumer Financial Protection Bureau's new rule caps overdraft fees at $5, aiming to save consumers billions annually and ...

The agency set an October 2025 deadline for the new restrictions to take hold, giving enforcement authority to the incoming ...

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.

The Biden administration is placing new rules on banks that would severely restrict how much they can charge on overdrafts.

( NewsNation) — A new rule from the Biden administration would cap overdraft fees at $5, lower than the average of $26 in ...

The Republican-controlled House Financial Services Committee said via X that this "eleventh-hour final rule governing ...

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

The Consumer Financial Protection Bureau took action to close an outdated overdraft loophole that exempted overdraft loans from lending laws.

According to the CFPB, 23 million households pay overdraft fees in any given year, with an average of about $150 per household. The final rule is projected to add up to $5 billion in annual overdraft ...

With the incoming Trump administration showing signs of opposition to the bureau, some of its biggest defenders are coming to ...