According to the Wall Street Journal,
Earlier this month, the bank sent notices to customers announcing a slew of pricing changes, scheduled to go into effect June 5, that would have raised the overdraft fee to $39 from $35 per item. On Monday, citing the “increase in unemployment,” the bank said it was suspending that increase and keeping the fee at $35, according to spokesman Jim Pierpoint.
Either way, if a payday loan costs $15-$17 per $100…you can see why consumers use payday loans to avoid overdraft fees.
It’s interesting that they decided against this fee increase but they are cutting credit limits and raising interest rates on many of their customers credit cards.