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stltoday.com

Fed Restricts Overdraft Fees

Thank the regulatory heavens. The Federal Reserve is moving to prohibit banks from charging overdraft fees on ATM and debit card transactions unless the customer has opted into a program agreeing to pay the extra charges. Banks raked in $37 billion in fees last year, largely through unexplained programs and extraordinarily high levies.

Posted on Nov 12, 2009 READ MORE


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