The cost of overdrawing a bank account could fall to as little as $3 under a new proposal announced by the White House on Wednesday.
It comes as the Biden administration looks to tackle fees it says bring an unnecessary burden on US consumers, particularly low-income families.
Officials said the move could save consumers, who can pay as much as $37 everytime they go into negative balance – a total of $3.5 billion a year.
We’ll be bringing you the very latest updates, pictures and video on this breaking news story.
Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you.
Follow our social media accounts here on https://www.facebook.com/ExpressUSNews and@expressusnews
