A major US bank has agreed to pay hundreds of millions of dollars to settle allegations that customers were charged illegal overdraft fees for years.

The Biden administration is proposing a new rule that could limit bank overdraft fees to as little as $3. The proposed regulation unveiled by the Consumer Financial Protection Bureau in tandem with ...

Add Yahoo as a preferred source to see more of our stories on Google. NEW YORK (AP) — Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced ...

File - A customer makes a transaction at an automatic teller machine in Los Angeles on March 27, 2023. The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by ...

Congress overturned a cap on bank overdraft fees, many of which exploit the desperate need of working families for short-term credit.

The new rule gives banks three options for overdraft fees, the simplest being to charge $5 per overdraft. The main trade group for U.S. banks opposes the rule, saying it will lead to fewer banks ...

Bank trade groups slammed the Biden administration’s latest proposal to limit overdraft fees Wednesday, dismissing it as a “misguided proposal” and an “effort to score political points.” The proposed ...

There may be nothing quite like the sting of being fined for not having enough money. Both checking accounts and savings accounts can sneak in and charge overdraft fees when you least expect them, so ...

Getting hit with an overdraft fee can be frustrating — but the good news is you may be able to get it refunded. Whether it happened because of a timing issue or budgeting slip, many banks are willing ...

The three biggest American retail banks collected 25% less overdraft revenue last year as the companies created new ways for customers to avoid the penalties. JPMorgan Chase, Wells Fargo and Bank of ...

The cost for overdrawing a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an ...