Why can't the UK cap overdraft fees? Some US states have a 7% limit

The FCA’s new measures don’t go far enough to protect consumers from sky-high bank charges
You check your account balance at a cash machine and what do you see? You have, say, £1,200 in your account – but “available funds” of £2,200. It’s one of the tricks used by banks to encourage us into using expensive overdrafts, and it works.The Financial Conduct Authority’s review of overdrafts on Thursday revealed that 19 million of us use our arrange