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The House overturned a rule limiting bank overdraft fees to $5, following the Senate's action. Republicans argued the rule, estimated to save consumers billions, would harm access to credit and force banks to eliminate overdraft protection. Democrats countered that it would protect vulnerable consumers from excessive fees. The resolution now goes to President Trump for his signature. The rule, targeting banks with over $10 billion in assets, was part of Biden's plan to reduce consumer fees. Banks had sued to block the regulation, citing potential negative impacts on consumers.

Prepared by Christopher Adams and reviewed by editorial team.