Crackdown on ODP?
September 18, 2009 | Washington Post, alternatives, federal legislation, industry | Comments (0)Big Washington Post story today:
Sen. Christopher J. Dodd (D-Conn.) plans to introduce legislation in the next few weeks cracking down on overdraft fees, the controversial charges that banks slap on customers who overspend their account balances.
The bill is likely to require companies to obtain permission from customers before enrolling them in overdraft programs, in which the bank automatically lends as much as a customer needs in exchange for a fee on each transaction.
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