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Republican bill could lead to higher overdraft fees

Summary by Straight Arrow News
Republicans introduced a bill to overturn a Consumer Financial Protection Bureau rule that sets bank overdraft fees at $5. That's down from the current average of $27. The CFPB said the rule will save consumers $5 billion a year and protect them from "junk fees." Republicans said if banks can't charge large enough fees, they'll cut people off when they need to pull more money from their account than they have. Full Story Republicans introduced a…

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NWAHOMEPAGENWAHOMEPAGE

AR Rep. French Hill, Republican lawmakers look to overturn cap on overdraft fees

WASHINGTON D.C. (KNWA/KFTA) — Arkansas Congressman French Hill and dozens of other Republican lawmakers are looking to reverse a rule introduced during the Biden administration that capped bank overdraft fees at $5 and closed an "outdated overdraft loophole." Hill and Sen. Tim Scott (R-South Carolina) introduced a joint resolution on Feb. 13 to overturn the Consumer Financial Protection Bureau (CFPB) rule that was implemented in Dec. 2024 in the…

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Straight Arrow NewsStraight Arrow News

Republican bill could lead to higher overdraft fees

Republicans introduced a bill to overturn a Consumer Financial Protection Bureau rule that sets bank overdraft fees at $5. That's down from the current average of $27. The CFPB said the rule will save consumers $5 billion a year and protect them from "junk fees." Republicans said if banks can't charge large enough fees, they'll cut people off when they need to pull more money from their account than they have. Full Story Republicans introduced a…

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Birmingham MailBirmingham Mail

UK households who have an overdraft could be owed back 'thousands' - Birmingham Live

One in five current account customers go overdrawn by an average of £697 each day, according to research by TotallyMoney, which was released this week.

·Birmingham, United Kingdom
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Birmingham Mail broke the news in Birmingham, United Kingdom on Thursday, February 20, 2025.
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