Never enough
November 16, 2009 | Center for Responsible Lending | Comments (0)There is no compromise with the Center for Responsible Lending. From their latest news release:
Statement of Eric Halperin, director of the Washington D.C. office of the Center for Responsible Lending:
“The Federal Reserve Board’s action today on debit card overdraft fees legitimizes an abusive product without providing any substantive protections for bank customers. We appreciate that the Fed chose to implement the strongest overdraft reform rule it was considering, namely requiring banks and credit unions to ask new and existing customers before charging overdraft fees on debit card transactions. But this improvement is undermined by the Fed’s failure to propose or enact necessary safeguards against a host of unfair practices.
They will not be happy until no one makes any money providing financial services to working people.
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