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Biden Administration Proposes New Rules to Lower Bank Overdraft Fees

HeadlineJan 18, 2024

The Consumer Financial Protection Bureau has proposed a rule that could drastically lower overdraft charges at the nation’s largest banks. If approved, many bank customers could see their overdraft fees drop from about $35 to as little as $3. The agency estimates the new rule could save households up to $3.5 billion annually. Banking trade groups have decried the proposed rule changes.

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