The Consumer Financial Protection Bureau has proposed a new rule to ease overdraft fees as part of the Biden administration’s broader effort to reduce “junk fees,” potentially saving millions of households significant costs while ensuring greater transparency and fairness in financial services.

Leading members of Congress have introduced a bipartisan tax proposal aimed at benefiting low-income families and businesses, including an incremental increase in the child tax credit, restoration of affordable housing tax relief, and provisions for disaster payments and U.S.-Taiwan business relations, with efforts to curb COVID-19-era fraud.