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.

NEW YORK (AP) — The Biden administration has finalized a rule limiting overdraft fees banks can charge, as part of the White House’s campaign to reduce junk fees that hit consumers on everyday ...

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 ...

Charge a flat overdraft fee of $5 Cap the fee at an amount that covers their costs and losses Charge any fee, but disclose the terms of the overdraft loan to customers the same way they would for ...

The Consumer Financial Protection Bureau has passed a rule limiting overdraft fees banks can charge, continuing the Biden administration's crackdown on junk fees that affect consumers on everyday ...

“Excessive overdraft fees have saddled hardworking Americans ... first announced in January as part of President Joe Biden’s ...