Samuel Corum/Bloomberg via Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation's biggest banks structure overdraft protection plans. Since 2000, American consumers have paid an estimated $280 billion in bank overdraft fees, according to CFPB data. During that time, the annual revenue big banks derived from overdraft fees soared, helped along by the boom in consumer debit cards tied directly to checking accounts. Taken together, these banks typically account for more than 80% of the overdraft fees charged in any given year. Banking trade groups deeply opposed to any changes in the overdraft rules have already begun to mobilize opposition, which is only expected to grow.

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Persons: Washington . Samuel Corum, Joe Biden, Parks, Lael Brainard, Andrew Caballero, Reynolds, CFPB, Biden Organizations: Consumer Financial, Bloomberg, Getty Images WASHINGTON, National Economic, White, AFP, Getty, Banking, Consumer Bankers Association Locations: Washington ., Washington ,