13 WTHR IndianapolisConsumer-finance watchdog probes overdraft fees

Consumer-finance watchdog probes overdraft fees

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WASHINGTON, DC -

The government's new consumer-watchdog agency is launching a probe into costly overdraft fees charged by big banks.

The Consumer Financial Protection Bureau said Wednesday that it will ask banks for information about how overdraft fees affect consumers, how overdraft protection is marketed and what information consumers receive.

The probe could result in new rules or even lawsuits if banks are accused of violating consumer laws.

Banks impose overdraft fees when people spend more money than they have in the Consumer-finance watchdog probes overdraft fees.

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