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Younger generations pay the most in bank fees, report finds

Monday, January 10, 2022
Khristopher J. Brooks | CBS News
Taylor Roberson
Big U.S. banks have generated about $9 billion annually in revenue from overdraft, ATM and other fees in recent years, according to the Center for Responsible Lending, or CRL. The fees have become somewhat of a cash cow for banks over the past 20 years, some experts have said. Taylor Roberson, a fintech regulation expert at CRL, said Bankrate's survey confirms what researchers have known for years about millennials baring the brunt of banking fees.