Overdraft fees

According to new data released by the Consumer Financial Protection Bureau, in 2016, U.S. consumers paid a total of $15 billion in fees for bouncing checks or over drafting.
Where these fees really hurt are consumers with low balances and little margin for error.
The average amount of money consumers overdraft by is about $24 -- but banks often charge fees of around $34 for each overdraft incident.
The Federal Reserve decided to crack down on the issue in 2010 by mandating that banks must receive a customer's explicit permission to approve a transaction when there are insufficient funds, and trigger overdraft fees. Otherwise, the transaction would simply be declined. However, customers that opt in and frequently overdraft "typically" wind up paying $450 per year in fees.
The Consumer Financial Protection Bureau said that it's testing out a new version of the opt-in forms, which are designed to make the issue clearer for customers. Monitor your bank accounts closely to help avoid these fees.