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Overdraft fees used to be revenue, now that's a growing concern for more banks

·4 min read
Overdraft fees used to be revenue, now that's a growing concern for more banks

Amid regulatory pressures and their own aims to better serve clients, big banks continue to provide more ways for customers to avoid overdraft fees. Overdraft fees are levied by financial institutions on customers who don’t have enough money in their account to cover their transactions. Two months ago, the Consumer Financial Protection Bureau, a federal agency created in the wake of the Great Recession, released a report on overdraft fees and said it would increase its oversight of banks that are heavily dependent on them.