Slash Your Banking Costs: CFPB's Overdraft Fee Cap Could Save You $200 Annually
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 respond by introducing new fees to make up for the loss. This move is likely to impact banking customers, who may need to navigate a new landscape of financial charges. With the CFPB's overdraft fee cap, consumers can enjoy lower banking costs, but it's essential to be aware of potential new fees, such as maintenance fees or ATM fees, to avoid unexpected charges. Banking transparency and consumer protection are key to avoiding financial pitfalls.
