New Rule Changes Could Cost You More in Bank Fees and Bills

Have you ever felt like you’re getting nickel-and-dimed at every turn—by your bank, by your bills, even by companies that won’t let you cancel a subscription without jumping through hoops?

You’re not imagining it. Junk fees are back, and they’re hitting low-income families the hardest. From overdraft fees to medical debt, the system is quietly shifting… and not in your favor.

Overdraft Fees Cost More

If you’ve ever been hit with a $35 fee just for going a few dollars over in your account, you know how painful overdraft fees can be. For people living paycheck to paycheck, these charges can spiral fast.

Just last December, the Consumer Financial Protection Bureau (CFPB) tried to help by capping overdraft fees at $5. They gave big banks a choice: follow lending laws or keep their fees low. That rule could’ve saved families about $225 a year.

But in March, the Senate voted to repeal that rule. Now, banks like Wells Fargo and Chase can go back to charging those big $35 overdraft fees.

More Overdraft Fees Allowed

It gets worse. The CFPB is also backing off a rule that stopped payday lenders and high-interest loan companies from trying to pull money out of your account over and over again.

This rule—called the Bounced Payment Rule—was made in 2017. It said that if a lender tried to take money from your account twice and failed, they had to stop and ask your permission before trying again. This protected people from getting charged multiple overdraft or nonsufficient funds fees.

Now, even though that rule is still technically in place, the CFPB says they won’t enforce it. That means lenders can go back to hitting your account as many times as they want—without asking. You can learn more in American Banker.

Medical Debt May Go Back on Credit Reports

If you’ve ever been slammed with a huge hospital bill, you know medical debt can wreck your credit. That’s why the CFPB made a rule to keep unpaid medical bills off credit reports. They knew these debts often come from emergencies and aren’t a good way to measure someone’s creditworthiness.

But now, some members of Congress want to reverse that rule. If they succeed, medical debt could hurt your credit score again—making it harder to get a loan, rent a home, or even get a job.

The Click to Cancel Rule May Be Cancelled

Ever signed up for something with one click—then found it almost impossible to cancel? That’s not an accident. Many companies make it hard to cancel so you keep paying.

To fix this, the Federal Trade Commission (FTC) created the Click to Cancel rule. It says that if you can sign up online, you should be able to cancel online too—just as easily.

But big companies are fighting back. Groups like the Interactive Advertising Bureau and others have taken the FTC to court to block this rule. The Verge explains the legal battle, and consumer groups like the National Consumer Law Center are stepping in to defend it.

Of course, we’ll be watching this one closely, too and I’ll keep you updated on it’s progress. 

Why This Matters

These changes aren’t just small rule tweaks—they have real consequences. They make it easier for banks and lenders to charge you more money, and harder for you to cancel services or protect your credit.

As author Matthew Desmond wrote in his bestseller Poverty By America, “Every year, over $11 billion in overdraft fees, $1.6 billion in check cashing fees, and up to $9.8 billion in payday loan fees. That’s over $61 million in fees collected predominantly from low income Americans EACH DAY – not even counting the annual revenue collected by pawnshops and title loan services and rent-to-own schemes. When James Baldwin remarked in 1961 how “extremely expensive it is to be poor,” he couldn’t have imagined these receipts.”

That’s not fair—and it needs to change.

What You Can Do

Remember, even when the system feels stacked against you, you’re not alone—and you still have a voice. There are still some things you can do to help protect yourself.

• Check your bank account often. Catch fees before they pile up.
• Speak up. Contact your lawmakers and tell them how these rules affect you.
• Stay informed. We’re working on free guides to help you fight fees and lower your bills. Subscribe to our email list for updates.