The CFPB rule would apply to banks with more than $10 billion in deposits.
Consumer Financial Protection Bureau director Rohit Chopra arrives to testify before a Senate Banking, Housing, and Urban Affairs Committee hearing on Capitol Hill, on Dec. 11, 2024, in Washington, D.C.Banking customers could save up to $5 billion per year on overdraft fees under a new rule finalized Thursday by the Consumer Financial Protection Bureau.
“Big banks love overdraft. It is easy profit for them, but it is punishing for so many Americans, especially those who live paycheck to paycheck,” Chopra told ABC News in an exclusive interview. Senate Minority Leader Mitch McConnell is seen with a bandaged face and wrist brace following a stumble and fall earlier at lunch, at the Capitol in Washington, D.C., on Dec. 10, 2024.
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