The Consumer Financial Protection Bureau (CFPB) has finalized a new rule limiting overdraft fees to $5, a move aimed at reducing the financial burden on consumers. This regulation is expected to save families billions of dollars by curtailing the excessive fees that have been a source of criticism against large banks. CFPB Director Rohit Chopra emphasized that the largest banks have exploited loopholes, draining billions from Americans' accounts. While the rule has been applauded by some lawmakers, challenges remain before it can be fully implemented.