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Banks Face Hit From CFPB on $30 Billion in Overdraft Fees

The $30 billion banks collect in overdraft fees each year may shrink as the U.S. Consumer Financial Protection Bureau imposes rules aimed at shielding customers from harm.

The agency, which issued a study on the fees yesterday, is also weighing regulations to improve consumer awareness of overdraft costs and restrict how banks can debit transactions and impose fees, according to a senior agency official.