Replacing overdraft income
March 18, 2010 | federal legislation, industry | Comments (0)From today’s American Banker (subscription required):
Banks are looking at various ways to replace the fee income they expect to lose as a result of changes in Regulation E requiring them to ask customers to opt in to overdraft protection. The conventional wisdom has been that banks that don’t already have them are going to have to impose checking fees. But not all banks are going that route. Also, retail banks have a lot of work to do in reaching out to shadow retirement account holders.
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