New Overdraft Rules Will Soon Go Into Effect

As reported by Kiplinger, many banks have already implemented changes in their overdraft policies before new rules take effect. Here's a short excerpt about the new rules:

The new rules go into effect July 1 for new accounts and August 15 for existing accounts. After those dates, unless you sign up for overdraft protection, your bank will not cover an ATM withdrawal or a debit transaction if you do not have enough money in your account.