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Fee Income - Banking Exchange
The Bureau seems poised to put even more pressure on financial institutions to change their overdraft practices
The new proposal forms part of CFPB’s work to prohibit all junk fees
Proposed rule to ban junk fees aims to remedy widespread concerns
The new rules could save consumers over $3.5 billion in fees per year
In response, the ABA highlights that fees are being eliminated and most customers are satisfied with their bank
The ABA and ICBA have criticized plans to limit late fees on credit cards, which the CFPB believes will slash costs to consumers by $9 billion
A topic that has generated questions from a number of financial institutions
Overdraft fees, nonsufficient funds (NSF) fees, and similar fees are under increased regulatory scrutiny
The $182 billion bank has removed the charges for all of its 2.3 million customers
Regions Bank waives fees and offers other relief while American Express donates to the American Red Cross
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