Episode Details

Banks raked in over $5.8 billion last year from overdraft fees — a profit engine that’s rebounded after years of decline. Once a courtesy, these charges now average $35 per incident and have become a digital-age cash cow for banks, who often choose to charge instead of declining transactions. Though some protections exist — like requiring opt-in for overdraft coverage — critics say federal safeguards remain weak. A proposed fee cap of $5 or cost-based pricing was blocked by Congress last fall, leaving consumers exposed to bank-driven policies. For those already on shaky financial footing, these hidden fees can pile up fast — and there’s little regulatory safety net to shield them.

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