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More Consumer Protections On Bank Overdrafts May Be Coming

Sunday, August 22, 2010 - 2:39 PM
From the Los Angeles Times:
Last week, Federal Reserve rules went into effect that barred banks from automatically charging existing account holders overdraft fees on ATM and debit card transactions.

But more consumer protections concerning overdrafts could be on the way.

I can understand how regulators want to ensure bank customers are not tricked into overdrafts, but I have a feeling this won't help our reward checking rates.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,632
1. Sunday, August 22, 2010 - 4:05 PM
I use reward checking accounts and will miss them if taken away but it is more important that the people that are paying these high fee are protected. It is quite obvious that those that can least afford these fees are the ones that are taken advantage of. Those of us who can afford the reward checking accounts will find another way to make money.
Ally6770Ally6770930 posts since
Jan 16, 2010
Rep Points: 2,706