Overdraft Fees
November 12, 2009 at 4:00 PM Leave a comment
New Fed Rule to End Overdraft Fees for the Majority of Americans:
The Federal Reserve on Thursday announced new rules that will soon limit the overdraft fees banks can charge their customers.
The new policy, which begins July 1, puts an end to the $25-or-more penalties banks can levy on consumers who spend more than they have. Buyers now will have to consent to those fees before banks can charge them — or they will lose the ability to spend even a penny more than their accounts contain.
That’s good, and it’s about time, but why wait until friggin’ July? (The big guys get all the breaks.)
Entry filed under: Financial Crisis, We the People. Tags: .
Trackback this post | Subscribe to the comments via RSS Feed