While acknowledging the Bureau’s earlier efforts to rein in high-cost overdraft fees, Nadine Chabrier, a Senior Policy Counsel with the Center for Responsible Lending says more must be done to protect consumers from other costly junk fees.
“These charges wreak havoc on household budgets,” said Chabrier. “We applaud President Biden for highlighting their harm… We are encouraged that the consumer bureau announced it will take additional steps, and we urge the bureau to place strong limits on the size and frequency of these fees.”
