Trump Administration Puts Brakes on CFPB Plan to Slash $15 Billion in Overdraft Fees
2025-02-13
Fortune
The Consumer Financial Protection Bureau's initiative to save consumers $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 about the impact on personal finance and consumer protection. This move may affect online banking and financial services, potentially leading to increased costs for Americans. The future of overdraft fee reform remains uncertain, leaving many to wonder about the implications for their financial well-being.
