Man using debit card hoping he has enough money Credit/Shutterstock

“Junk fees” are back in the news now that President Joe Biden, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), and Lena Khan, Chairwoman of the Federal Trade Commission (FTC), all spoke out against this modern-day plague last week that is impacting everything from Taylor Swift concerts to bank account record requests.

Chopra released a report detailing the decline of overdraft fees, and the Bureau issued a guidance effectively banning financial institutions with $10 billion or more in assets from charging fees to members asking for account records even if the account information goes back several years.

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