Fourteen of the largest U.S. retail banks posted jumps in the income they generated from overdraft and bounced-check fees during the first nine months of the year, while two big banks reported sharp declines, according to a Reuters analysis.
The charges mostly relate to overdraft fees
CFPB 2017 research found that nearly 80% of overdraft charges came from just 9% of accounts, which had only a few hundred dollars at any time.
As we near a recession, the kicking of the working class continues.
Meanwhile bank CEO screech “Share Holder Value” as increased profits roll into the coffers.
A Biden-era rule from the Consumer Financial Protection Bureau (CFPB) that aimed to cap overdraft fees at $5 for large banks was overturned by Congress and President Trump in May 2025 using the Congressional Review Act (CRA). This means the rule, which would have significantly reduced bank revenue from these fees and given consumers more choices, is void, allowing banks to continue charging higher fees unless they choose otherwise, and preventing similar rules in the future.