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Released: August 14, 2010
The FDIC’s guidelines on overdraft fees
Source: Jennifer Saranow Schultz, New York Times (Free Registration)
Should financial institutions be responsible for watching out for, and offering alternatives to, customers who chronically overdraw their accounts?
The Federal Deposit Insurance Corporation seems to think so. The agency issued suggestions on Wednesday for how the banking institutions it supervises should monitor and oversee their automated overdraft payment programs. The FDIC wants them to ensure that the programs and their fees are not used as a form of short-term, high-cost credit.
Read Full Article: The FDIC’s guidelines on overdraft fees
Tags/Keywords
banking, banks, checking accounts, headlines, overdraft fees, overdrafts, bounced checks
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Article Viewed: 1652
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