- USA
  location (geo:U.S., geo:the United States, geo:USA, geo:United States, org:the United States, geo:US, org:U.S., org:US)
- Washington (state)
  location
- Consumer Financial Protection Bureau
  organisation
- business
  category
- politics
  category

Overdraft Fees Could Be Capped at $5 Under Biden Crackdown

The Wall Street Journal

The Wall Street Journal

Summary

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Banking customers could save up to $5 billion per year on overdraft fees under a new rule finalized Thursday by the Consumer Financial Protection Bureau.
ABC 7 News
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President Joe Biden had called the fees, which can be as high as $35, “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place.
Ассошиэйтед Пресс
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The CFPB finalized a rule that allows banks to cap overdraft fees at $5 or set the fee at an amount that covers losses.
Insider
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The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S. market.
Asianet Newsable

■ Story #9 ▪

issue 88:88 ▪

32 items ▪

12 sources ▪

updated 88:88

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