Strong defense of overdraft protection
January 14, 2010 | Iowa, alternatives, industry | Comments (0)You don’t see too many op-eds like this one:
Proposed legislation in Congress would limit how Iowa banks and credit unions can help consumers with this service. Specifically, this legislation would limit the number of times consumers could utilize overdraft protection to once per month and no more than six times per year. Such legislation would restrict consumers from receiving the benefits of this service and increase the number of checks returned by merchants due to insufficient funds.
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