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January 18, 2024

Biden Administration Proposes New Rules to Lower Bank Overdraft Fees
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The Consumer Financial Protection Bureau has proposed a rule that could
drastically lower overdraft charges at the nation's largest banks. If
approved, many bank customers could see their overdraft fees drop from
about $35 to as little as $3. The agency estimates the new rule could
save households up to $3.5 billion annually. Banking trade groups have
decried the proposed rule changes.


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