Overdraft Fees Gaining Attention in Washington
Written by admin on October 6, 2009 – 11:08 pmAccording to Money Magazine, political momentum in Washington is gaining behind a proposed crack down on overdraft fees — the penalties banks charge when customers spend more than they have in their accounts.
“They clearly know something is coming,” said Melissa Koide of the New America Foundation, a left-leaning Washington policy group. “It’s a very big populist issue so these big banks and the regional ones are reacting in anticipation, and that isn’t a bad thing.”
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