The Federal Reserve's proposed changes to Reg. E intended to provide consumers a choice regarding their institution's payment of overdrafts for ATM and one-time debit card transactions were announced last December.

Comments on the proposed changes can be submitted electronically on the Fed's web site. To date, the Fed has received over 1,600 comments.

On Thursday, the House Subcommittee on Financial Institutions and Consumer Credit held a hearing on H.R. 627, the Credit Cardholders' Bill of Rights Act of 2009 and H.R. 1456, the Consumer Overdraft Protection Fair Practices Act of 2009. READ MORE »