Post by Pete on Jan 19, 2024 11:22:42 GMT
As things stand now, many of the larger banks commonly charge about $35 per overdraft. Under the proposal, large banks could still charge overdraft fees, but not anywhere near $35.
The agency said it’s flexible on the fee that banks choose and proposed benchmarks of $3, $6, $7, or $14 -- less than half of what customers are paying now.