Billions in Bank ‘Junk Fees’ to Get Scrutiny by Revived CFPB (2)

The billions of dollars in fees that U.S. banks charge customers are being scrutinized by the Consumer Financial Protection Bureau, which is re-emerging as an aggressive watchdog after being muzzled during the Trump administration.

The regulator, created in the aftermath of the 2008 financial crisis, is launching a broad review of what it calls “exploitive junk fees,” according to a statement issued Wednesday. In the agency’s crosshairs are credit-card charges and overdraft fees -- penalties banks impose on consumers when they withdraw more money than is available in their accounts.

Customers are signing up for financial products without knowing ...