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💸Over the last two decades, big banks have made over $300 billion on overdraft fees, with 50 million Americans paying these fees each year.
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💰The Consumer Financial Protection Bureau is working to eliminate "junk fees" charged by banks.
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🏦Banks are fighting against the proposed rule, showing their reluctance to let go of the revenue generated from overdraft fees.
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💰Large banks with at least 10 billion in assets will be affected by the new rule, while smaller community banks may still be able to charge certain fees.
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💳If you're not practicing good financial principles, banks will take advantage of you with overdraft and junk fees. Be careful out there.
