Skip to content
Subscriber Only

Banks Fight Revised U.S. Plan to Monitor Checking Overdraft Fees

U.S. banks are seeking to shield from scrutiny the $30 billion they collect annually in checking-account fees, saying a proposed requirement for periodic reports is unacceptable even if it exempts small institutions.

The dispute is the latest installment in a multi-year fight between the industry and the Consumer Financial Protection Bureau over how to monitor the way banks assess charges on their depositors, particularly when people overdraw checking accounts.