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Senate Bill Would Curtail Bank Overdraft Charges – New York Times

October 19, 2009 The Community
By ANDREW MARTIN
Published: October 19, 2009

In the latest attack on overdraft fees charged by banks, Christopher J. Dodd, the Connecticut Democrat who heads the Senate Banking Committee, introduced legislation on Monday to limit the number of fees charged to one per month, and to require a bank to seek consumers’ permission to cover debit card and check purchases that would push their bank balance below zero.

Read the rest of the article at the New York Times

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  • This is a serious issue with implications for both sides. What concerns me most is the total lack of knowledge of how banking works by Senator Dodd and his staff. If I give him the benefit of the doubt, then he is totally pandering to his voters and consumers. He needs to stop pandering to the people and be a leader with this issue.
  • Thanks for the comment David. I agree that overdraft charges are tough subject for both sides and nobody likes to be surprised with fees that didn't know they were going to be charged. I came across an article on financiabrand.com lately that Jeffrey did that came up with some good ideas to the overdraft fees issues.

    Here its: http://thefinancialbrand.com/2009/09/23/fixing-...
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