A mere four months ago, the Biden administration capped bank overdraft fees at $5. There was just one catch: The cap wouldn’t take effect until October. It now appears the cap will never take hold.

Overdraft fees average about $27 per transaction according to Bankrate’s 2025 checking account survey, but many major banks have eliminated or reduced these charges. Capital One, Citibank, and Ally ...

When you use more funds than you have in your checking, savings, or money market bank account, you can end up with a negative balance. That can lead to your bank declining future transactions. If you ...