A major US bank has agreed to pay hundreds of millions of dollars to settle allegations that customers were charged illegal overdraft fees for years.

Overdraft fees are the financial equivalent of a parking ticket: annoying, avoidable, and somehow always showing up at the worst time. In 2024, about 11% of Americans got hit with one. But the good ...

Citigroup is the latest bank to get rid of overdraft fees, making it the largest U.S. bank to eliminate these types of charges. Overdraft fees, non-sufficient funds fees and overdraft protection fees ...

(InvestigateTV) — When an account is overdrawn, consumers pay a high price. In 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule that would have required large banks and credit ...

Capital One said Wednesday that it will get rid of all overdraft and non-sufficient funds fees, the latest bank to do so this year and one of the largest financial institutions to shy away from the ...

It feels harmless. A coffee clears before your paycheck. You dip negative by a dollar. No big deal. Behind the scenes, banks treat that $1 exactly the same as a $100 mistake. And the consequences add ...