Bank fees, Apple fees, and shipping fees.

From Marketplace, I'm Sabrie Benashore in for David Brancaccio.

Many of the nation's biggest banks have now reported their fourth quarter results and they have been mixed.

The Goldman Sachs yesterday beat profit estimates.

Citigroup last week reported a loss and J.P. Morgan Chase and Bank of America

posted lower profits.

Now one way banks have tried to boost their bottom lines is through fees, including overdraft

fees.

But that is changing.

Citigroup last year eliminated overdraft fees and a new

Biden administration rule announced this morning would dramatically

reduce those fees at other banks saving consumers at least billions of dollars

a year.

Marketplaces Nova Safo has more.

The Consumer Financial Protection Bureau is proposing new regulation, the agency says, closes a loophole

which has allowed many banks to charge large fees for overdraft protection.

Overdrafts typically occur on debit card transactions in effect about 23 million American

households each year.

The proposed new rule would reduce the fees banks can charge to only what it costs them to provide

overdraft protection services, potentially as little as $3.

Alternatively, banks could offer customers an overdraft credit line, which like any other consumer credit product

would include disclosures of interest rates. That would be a change from current practice

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