From Fortune:

The White House is considering dropping the cost to overdraw a bank account to $3. This change would eliminate billions of dollars in fee revenue for the nation’s biggest banks, operating as a battle move by the Biden administration. The average overdraft fee in August 2025 was $26.61, with the biggest banks bringing $8 billion annually in fees. Many banks are lobbying to contest the proposal before its likely court challenge. The rules would only apply to 175 banks with over $10 billion in assets. Banks added overdraft fee safeguards after public and political pressure to control the fees.



Read more: Bank overdraft fees could drop to $3 under new Biden proposal: ‘Banks call it a service—I call it exploitation’