Consumer Financial Protection Bureau (CFPB): Changes in Banking Overdraft Fees and Policies

February 21, 2022


Recent CFPB research showed that banks continue to rely heavily on overdraft and non-sufficient fund (NSF) fees, which cost Americans an estimated $15.5 billion in 2019.

In recent weeks, however, we’ve seen an uptick in banks changing their overdraft and NSF programs. While these changes vary widely, they include:

  • Eliminating NSF fees when transactions bounce
  • Reducing the size of overdraft fees or the number of fees charged each day
  • Providing a grace period to bring the account positive

These steps show encouraging signs that some banks are moving in the right direction. We’re continuing to monitor these developments to better understand their impact, and to work to ensure banks continue to reduce their reliance on overdraft and NSF fees.

See our table to compare banks’ policies and fees related to overdraft and NSF fees.

Learn more about these changing policies and how you can share your experiences with overdraft and junk fees.