New York CNN —
The Consumer Financial Protection Bureau on Wednesday said it is proposing a rule that would curb excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $3.5 billion a year.
The rule would only apply to banks and credit unions with at least $10 billion in assets, which account for the largest share of deposit account customers in the United States.
Too often, the consumer watchdog agency has noted, bank customers are surprised by overdraft fees and those who can least afford them are
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