Capital One Eliminates Overdraft Fees

Advocates Call for All Banks to Follow Suit

Advocates at the National Consumer Law Center (NCLC) today applauded an announcement by Capital One that the bank will eliminate overdraft fees. NCLC further issued a call for other banks to follow suit and called on the Consumer Financial Protection Bureau (CFPB) to issue rules that would end overdraft fees.

“Capital One’s complete elimination of all overdraft and NSF fees is a game changer that should set the standard for the entire banking industry and encourage the…