A mere four months ago, the Biden administration capped bank overdraft fees at $5. There was just one catch: The cap wouldn’t take effect until October. It now appears the cap will never take hold.

Big banks and credit unions that dominate the financial landscape would only be able to charge $5 for overdraft fees or face much tighter restrictions under a final rule by regulators. Under the ...

Burdensome, sometimes budget-busting, overdraft fees are gradually getting chipped away as criticism builds against banks. On Wednesday, Chase Bank — the biggest bank in the country — announced four ...