New CFPB Overdraft Fee Cap: Save $200 Annually, But Beware of Hidden Charges
2025-01-16
Fortune on MSN.com
The Consumer Financial Protection Bureau's (CFPB) new cap on overdraft fees is set to save consumers around $200 per year. However, the banking industry is expected to introduce new fees to compensate for the loss, potentially impacting account holders. With the rise of online banking and mobile banking, it's essential to review your account terms and conditions to avoid unexpected charges. The CFPB's move aims to promote financial inclusion and reduce debt, but consumers must remain vigilant about emerging fees and banking trends.
