Overdraft fees, late fees could be slashed as White House continues attack on junk fees ...Middle East

Wells Fargo is one of the major banks that would be affected by a new overdraft rule proposed by the Consumer Financial Protection Bureau. (Photo by Justin Sullivan/Getty Images)The cost of overdrawing your bank account could ease considerably under a rule proposed last week by the Consumer Financial Protection Bureau. The proposed regulation is in line with a larger effort that the Biden administration has championed the past few years to crack down on “junk fees,” which are tacked onto everything from ticket prices to hotel bills. The agency says roughly 23 million households use overdraft fees each year and while most consumers’ overdrafts on debit cards are less than $26, they usually ha

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Overdraft fees, late fees could be slashed as White House continues attack on junk fees ...Middle East

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