Federal Banking Regulatory Reform - Press
By Juliette Fairley
NEW YORK (MainStreet) — Some 50% of Americans who fall into overdraft do so, because they don’t know their account balance, according to a recent survey from GoBankingRates. That lack of knowledge is extra dangerous when it comes to the overdraft policies of banks, and consumer advocates are fighting back to end these misleading overdraft bank policies that prey on consumers.
By Herb Weisbaum
Checking accounts—and the debit cards that come with them—should be a simple and straightforward way to handle routine financial transactions. And yet, many people simply don't understand the overdraft policies at their bank or credit union.
By Kevin Wack
For the last four years, U.S. regulators have been requiring banks to offer their customers a choice on overdraft fees. And in response, most consumers have opted not to run the risk of incurring large fees in exchange for the ability to spend more than they have.