I am glad my Senator, Chris Dodd, is doing something about it.
That is not a deterrent. That is not a service. That is a debt trap.
It seems to me if someone is overdrawn by $500, or $250, having an overdraft fee that would somehow be proportional to t...
93 percent of all overdraft fees are paid by 14 percent of account holders.
My concern is that if we give a choice in a static environment, where I opened an account 2 years ago and I opted into t...
It seems to me it is----
If they wanted to deter overdrafting, they would deny the transactions on debit cards at the ATM.
Today, we meet to discuss another abusive practice--misleading overdraft programs that encourage consumers to overdraw t...
Last week, the Federal Reserve, to its great credit, announced that they will require banks to get a consumer's consent ...
That is interesting.
Abusive overdraft policies are blatantly unfair. And the banks know it.