The Biden Admin Is Ending Junk Fees & Overdraft Charges
The Consumer Financial Protection Bureau is cracking down on junk fees and the companies that charge them. Junk fees can include bank, ticket, and gift card fees or service charges. Banks and financial institutions make a fortune from these fees, extracting about $15 billion in overdraft and non-sufficient fund fees a year by preying on the people who can least afford it. Rohit Chopra, the Director of the CFPB, is directing the agency to put that money back into people's pockets.
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