Community-Focused Credit Unions Should Have Dumped 'Junk Fees' Long Ago

CUs cannot profess to protect consumers while simultaneously maximizing their revenue through overdraft fees.

By Paulina Gonzalez-Brito | November 17, 2023 at 09:00 AM

On Oct. 11, the Biden Administration unveiled a crucial set of proposals aimed at curbing excessive consumer fees, such as overdraft and nonsufficient fund (NSF) fees, often called "junk fees." This move represents a significant step toward rectifying an issue that has long burdened consumers, particularly low-income consumers and consumers of color.

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