|
|
|
|
|
Federal Legislative and Regulatory Issues
|
Overdraft Protection Joint Economic
Committee Chairman Carolyn Maloney (D-NY) introduced overdraft
legislation (H.R.
3904) that would require a written opt-in for banks to enroll
customers in overdraft protection programs, limit
overdraft fees to one per month and six per year, and require fees to be
“proportional” to the cost of processing the overdrafts. The bill also
would require warning customers if ATM transactions would result in
overdrafts, and require institutions to post transactions “in
such a manner that the consumer does not incur avoidable overdraft
coverage fees.” |
GBA's professional staff represents the membership at the both the state and federal levels. Contact any of them with questions about issues:
Joe Brannen |
