There’s dancing in the streets
December 3, 2009 | alternatives, federal legislation, industry, personal finance | Comments (0)The Washington Post’s “The Color of Money” columnist likes the new overdraft protection rules:
It only took a deep recession but finally the need to protect consumers is outweighing the almighty concern for business to make a buck.
By next summer, financial institutions will be prohibited from charging customers overdraft fees on transactions at automated teller machines and with debit cards unless the customer consents to such overdraft protection.
What the Fed is doing deserves kudos.
“The final overdraft rules represent an important step forward in consumer protection,” Fed Chairman Ben S. Bernanke said.
Comments»
No comments yet.