Dodd wants consumers to “opt in”
June 9, 2009 | alternatives, industry | Comments (0)Sen. Dodd (D-CT) sent a letter today to the Fed regarding overdraft protection:
WASHINGTON (Reuters) – Senate Banking Committee Chairman Christopher Dodd said on Tuesday that he is pressing the Federal Reserve to act quickly to prohibit banks from charging overdraft fees.
The Connecticut Democrat said in a letter to Fed Chairman Ben Bernanke that consumers should be given the opportunity to “opt-in” to fee-based overdraft programs instead of automatically applying them.
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