The Biden administration has finalized a rule limiting overdraft fees banks can charge, as part of the White House's campaign ...

Overdraft transaction charges could drop to a maximum of $5 from the current ceiling of $35 as of Oct. 1, 2025, if the ...

The Biden administration announced the crackdown on overdraft fees in January as part of a larger crusade against excessive fees in the banking industry. “For too long, some banks have charged ...

The finalized rule, which is scheduled to go into effect in October 2025, applies to banks and credit unions with more than $10 billion in assets. In its press release, the CFPB said the rule will ...

President Joe Biden said the fees, which can be as high as $35, are “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place. The Biden ...

The new rule gives banks three options for overdraft ... fees for overdrafts and non-sufficient funds — that is, when a check bounces or a payment is declined. The arrival of the Trump ...

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 ...

It is part of the Biden Administration's pledge to crack down ... banks had penalized those who could least afford to pay overdraft fees, and that the law protects their most vulnerable customers.

A rule change would take effect in October 2025 if it isn’t overturned or altered.