Banking groups said they plan to sue the federal Consumer Financial Protection Bureau for adopting a rule that would limit overdraft fees.

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US Lenders File Joint Lawsuit Against Consumer Finance Watchdog For Capping Overdraft Fees: Wells Fargo, JPMorgan, Citigroup Stocks In Focus - Citigroup (NYSE:C), Citizens Financial Group (NYSE:CFG)

Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge

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Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees

Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President

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Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge.

Washington Times

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Overdraft issuers including American Credit Unions, Consumer Bankers Association, American Bankers Association, and the Mississippi Bankers Association, have jointly filed a lawsuit challenging the Consumer Financial Protection Bureau‘s new decision. What Happened: The U.S. watchdog agency for consumer finance decided to cap the overdraft fees which can add up to $5 billion in annual fee savings to the consumers, or $225 per household that pays …

Some banks and banking associations sued the U.S. Bureau for Consumer Financial Protection for a rule that limits the overdraft rates that banks can charge.

Algunos bancos y asociaciones bancarias demandaron a la Oficina para la Protección Financiera del Consumidor de Estados Unidos por una regla que limita las tarifas por sobregiro que los bancos pueden cobrar.

EEUU: Grupos bancarios demandan por límite propuesto a comisiones por sobregiro

Los Angeles Times

Patrick Soon-Shiong

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USA: Banking groups demand by limit proposed commissions for overdraft

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Bank groups sue CFPB over rule to limit overdraft fees

Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President Joe Biden administration’s campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. But banks argue that without overdraft protection, desperate consumers will instead lean on worse, unregulated services to ease their crunc…

Bank groups sue CFPB over rule to limit overdraft fees

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