Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, December 12th, and I'm your host, Kim Khan. Our top story so far,

major U.S. banks will have to put a limit on overdraft fees, according to a final rule from the Consumer Financial

Protection Bureau. Banks and credit unions can still charge overdraft fees, but must cap them at $5

or charge depositors a fee that covers their expenses and losses. The latest measure to take effect

on October 1, 2025, could save customers $5 billion annually, and was part of the campaign against junk fees by the Biden administration.

The new rule applies to banks and credit unions that have at least $10 billion in assets.

Previously, customers were charged $35 on an average when they overdrew their bank accounts.

The CFPB has been leading an effort to curb junk fees, with multiple banks beginning to reduce

or eliminate overdraft and non-sufficient fund fees.

However, despite such initiatives in place, consumers still paid more than 5.8 billion

in reported overdraft and NSF fees last year.

But the latest rule proposed in January has been met with criticism from banks and Republican lawmakers.

With the Republicans set to take over Congress and President-elect Donald Trump expected to

appoint a new CFPB head, the future of the rule is unclear. Looking to the economy,

inflation is still in the spotlight, this time wholesale, and it's still on the high side.

The November producer price index rose

0.4% on the month, topping the 0.3% consensus estimate, and accelerating from 0.3% in October,

which was revised from 0.2%. That pushed the annual rate to 3% versus the 2.6% consensus

and 2.9% prior. The October number was revised up from 2.4%. consensus and 2.9% prior.

The October number was revised up from 2.4%.

The core PPI number, which excludes food and energy, rose 0.2%, slowing from 0.3% in October

...