CNBC
•89% Informative
JPMorgan Chase , Wells Fargo and Bank of America reported a combined $2.2 billion in overdraft fees in 2023 .
Overdraft fees are triggered when a customer attempts to spend more than the balance in their checking accounts.
The industry is girding itself for a battle over overdraft after the CFPB last month unveiled a proposal to limit charges to as little as $3 per transaction.
Banks say overdraft services are a lifeline that helps users avoid worse options like payday loans.
VR Score
94
Informative language
95
Neutral language
77
Article tone
formal
Language
English
Language complexity
47
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
4
Affiliate links
no affiliate links