Biden administration unveils proposed changes to big banks’ overdraft fees

Biden administration unveils proposed changes to big banks’ overdraft fees

The Consumer Financial Protection Bureau headquarters in Washington. Samuel Corum/Bloomberg via Getty Images WASHINGTON – The Consumer Financial Protection Bureau on Wednesday announced long-awaited changes to how the nation’s largest banks structure overdraft protection plans. The independent regulator said the new rule closes a loophole that has exempted overdrafts from the consumer protection provisions of…

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