How banks are navigating a multi-pronged assault on customer fees

In his most recent article published in the Daily Journal, Alexander Safyan highlights recent regulatory developments in the financial services industry that are shaking up how banks operate. With the CFPB capping credit card late fees at $8 and the FTC considering a $3 limit on overdraft fees, banks are facing increased scrutiny and litigation. In response, they’re adjusting their fee practices, enhancing transparency, and reinforcing legal protections. As the regulatory and legal landscape evolves, banks must stay proactive to navigate the challenges ahead and maintain trust with consumers.