The Biden administration has proposed a new rule that would curb overdraft fees incurred when consumers withdraw more than the available funds in their bank account. Originally appearing in Vox on Jan. 17, 2024, Nicole Narea turns to NCLC Associate Director Lauren Saunders to help explain the rule.
“These fees push people out of bank accounts and deprive them of access to financial services. This proposed rule will level the playing field, promote fair competition, and benefit both responsible banks and consumers.”
Lauren Saunders, associate director of the National Consumer Law Center
Support NCLC
Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!
Donate