Tags » Banking Industry, Financial Regulators, Overdraft Fees » Comments (0)
In a letter today to Fed Chairman Ben Bernanke, Senator Chris Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, urged the Federal Reserve to act as soon as possible to protect consumers from abusive overdraft fees. Dodd called on the Fed "to finalize a proposed rule that would curb the use of excessive and unfair fees when consumers overdraw their bank accounts. Dodd further pressed the Fed to implement an “opt-in” approach to overdraft fees, which would ensure that banks would be prohibited from charging consumers an overdraft fee without their consent."
Add your comment... (note that all comments are reviewed before they're published)