CFPB Issues Final Overdraft Rule That Will Save Consumers Billions Annually
December 13, 2024
December 13, 2024
DURHAM, North Carolina, Dec. 13 -- The Center for Responsible Lending issued the following news release:
Today, the Consumer Financial Protection Bureau (CFPB) issued an overdraft rule that will prevent the country's very largest banks and credit unions from charging excessive overdraft fees, lowering the cost of most overdraft fees from around $30 down to $5.
"This rule provides needed breathing room for financially constrained consumers who are hit hardest by exc . . .
Today, the Consumer Financial Protection Bureau (CFPB) issued an overdraft rule that will prevent the country's very largest banks and credit unions from charging excessive overdraft fees, lowering the cost of most overdraft fees from around $30 down to $5.
"This rule provides needed breathing room for financially constrained consumers who are hit hardest by exc . . .