Blog: Richard Golomb, of Counsel to Anapol Weiss and Kevin Fay, of Counsel to Anapol Weiss

Predatory Overdraft Fees are Harming Consumers

Jun 19, 2024

According to estimates from the Consumer Financial Protection Bureau, Americans have paid roughly $280 billion in overdraft fees over the last 20 years. That is a staggering amount of money. The banks that charge these fees are both large and small. Their overdraft policies target low-income families that struggle to meet their monthly financial obligations. The Consumer Financial Protection Bureau found that nearly three-fourths of overdraft and related fees are paid by only eight percent of...