The Consumer Financial Protection Bureau formally announced this week that it will investigate the overdraft fees that banks charge on checking accounts.

FORBES: Overdraft Fees Under Scrutiny Once Again

Last year, the Federal Reserve barred banks from offering overdraft protection on debit card transactions without prior consent from consumers.

FORBES: This Week In Credit Card News

Regulators are also trying to write the final rules that will limit how much banks may charge when retailers swipe debit cards, as well as restricting banks' ability to levy overdraft and other fees on current accounts.

ECONOMIST: American banks