The hidden cost of junk fees
There’s a growing concern that banks and other financial companies seem to be making these junk fees, like overdraft fees, part of their core business model.
Surprise depositor fees
Surprise depositor fees include the practice of indiscriminately charging fees to every person who deposits a check that bounces.
Surprise overdraft fees
Surprise overdraft fees, includes fees charged when consumers reasonably expected they had enough money in their account to cover a charge at the time the bank authorizes it.
Latest news
- CFPB Issues Guidance to Help Banks Avoid Charging Illegal Junk Fees on Deposit Accounts
- CFPB Report Finds High Fees Charged on Student Banking Products Endorsed by Colleges
- CFPB Moves to Reduce Junk Fees Charged by Debt Collectors
- CFPB Initiates Review of Credit Card Company Penalty Policies Costing Consumers $12 Billion Each Year
- View all press releases on junk fees
Enforcement Actions
- CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit Accounts
- Statement of CFPB Director Rohit Chopra on Complaint Against ACTIVE Network
- CFPB Orders Regions Bank to Pay $191 Million for Illegal Surprise Overdraft Fees
- CFPB Penalizes JPay for Siphoning Taxpayer-Funded Benefits Intended to Help People Re-enter Society After Incarceration
Remarks
- Testimony of CFPB Senior Advisor Brian Shearer on Junk Fees Before the Pennsylvania House of Representatives Consumer Protection, Technology, and Utilities Committee
- Prepared Remarks of CFPB Director Rohit Chopra on the Junk Fees RFI Press Call
- Prepared Remarks of Director Chopra on Credit Card Late Fees ANPR Press Call