A California law: Assembly Bill 2017 will block insufficient funds fees at ATMs, when customers try to make a withdraw that is more than they have in their bank accounts. This bill will take effect on Jan. 1, 2025, according to a report by CAL Matters.
Consumer advocacy groups said these fines are junk fees and this law will help protect financially vulnerable customers. The Consumer Federation of America said that the common fee for such a transaction is $30 or more.
California has signed other laws eliminating fees, such as Senate Bill 1075 that limits credit union fees for insufficient funds to $14.
