“Excessive overdraft fees have saddled hardworking Americans ... first announced in January as part of President Joe Biden’s crackdown on junk fees and attempt to bring about more transparency ...

Banks call it a service − I call it exploitation\' The Biden Administration announced the crackdown on overdraft fees in January as part of a larger crusade against excessive fees in the banking ...

The National Credit Union Administration has issued guidance to federal credit unions regarding the consumer harm stemming from certain overdraft ...

The CFPB, which initially proposed a crackdown on such fees in January, maintains that banks are charging excessive overdraft fees by exploiting a loophole that exempts overdraft lending services ...

Biden announced the crackdown in January, sparking criticism from banks that claimed capping fees would reduce how much overdraft protection they could offer. Some large banks have already reduced ...

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.