A new CFPB rule could cap overdraft fees to $5 for very large institutions starting next October. The best banks for avoiding overdrafts don't charge overdraft fees at all, but it's more common for banks to charge overdraft fees in the $20 to $40 range. Here's what you can expect to change and what you should do to take advantage of lower overdraft fees. AdvertisementFinancial institutions on the list that haven't eliminated overdraft fees have a couple of other options if they don't want to cap overdraft fees at $5. AdvertisementHow to mitigate overdraft fees nowWhile this rule would help you avoid high overdraft fees, there are ways you can lower the impact of overdraft fees on your budget regardless of whether the rule goes through.

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