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August 18, 2022

BofA's overdraft fees down 90%

NEW YORK (AP) — Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks.

The nation's largest banks are moving away from the practice of charging exorbitant fees on what are mostly small-dollar purchases after years of public pressure.


 
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