The Biden administration has released a guide for state legislatures and attorneys general
on how they can take action against what it has labeled “junk fees”—a broad category of business fees that includes fees banks charge for services such as overdraft protection.
The CFPB also released a new Supervisory Highlights report
alleging to have uncovered a range of “unlawful junk fees,” including “surprise” overdraft fees charged by banks. Meanwhile, the CFPB has stated that its examiners have cited banks for UDAAP findings for overdraft fees resulting from “authorize positive, settle negative” transactions.