America's Fee Economy Is Costing Consumers Billions. Here's How to Avoid It.

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. America's banking system generates billions in revenue from everyday consumers who pay for the privilege of holding, accessing, and using their own money. In 2024, the Consumer Financial Protection Bureau reported that banks collected $5.83 billion in overdraft and non-sufficient funds (NSF) fee revenue in 2023 alone. But that's just one category of fees. According to The Financial Health Network, a lead ...