Trump Administration Puts Brakes on CFPB's Plan to Slash $15 Billion in Overdraft Fees
2025-02-13
The Associated Press on MSN.com
The Consumer Financial Protection Bureau's (CFPB) initiative to save Americans $15 billion annually in overdraft fees has been put on hold. The new CFPB lead, an architect of Project 2025, has paused a Biden-era rule aimed at reducing bank fees, sparking concerns over consumer financial protection and fair banking practices. This move may impact personal finance and banking regulations, affecting millions of consumers. The CFPB's decision has significant implications for the financial sector, with potential consequences for online banking and consumer loans.
