Key facts
- Congress repealed a federal rule that capped bank overdraft fees.
- Banks have increased their revenue from overdraft and nonsufficient funds (NSF) fees.
- In 2025, consumers paid over $12 billion in overdraft and NSF fees.
- JP Morgan Chase and Wells Fargo each collected approximately $1 billion in overdraft fees in 2025.
- USAA Federal Savings Bank significantly increased its overdraft fee revenue by introducing new fees in late 2023.
Following the repeal of federal protections by Congress and the Trump Administration, many of the largest U.S. banks have increased their overdraft and nonsufficient funds (NSF) fees. In 2025, consumers paid over $12 billion in these fees, a significant increase attributed to the removal of regulatory limits. JP Morgan Chase and Wells Fargo each collected approximately $1 billion in overdraft fees during that year, while PNC Bank saw an 8% rise in fees to $279 million. USAA Federal Savings Bank also dramatically increased its overdraft revenue, largely by introducing new fees in late 2023. Regions Bank reported the highest per-account overdraft fee revenue among large banks, averaging $30 annually. Despite these trends, some institutions like Capital One, Citibank, American Express, and Ally Bank do not charge overdraft fees. A report from the National Consumer Law Center (NCLC) highlights these practices and suggests states can take action to limit these fees, proposing a cap of $5 per overdraft and the prohibition of NSF fees.