@inclementimmigrant to politics • 2 months agoNew Federal Rule Limits Overdraft Fees at Large Bankswww.nytimes.comexternal-linkmessage-square3arrow-up155arrow-down10
arrow-up155arrow-down1external-linkNew Federal Rule Limits Overdraft Fees at Large Bankswww.nytimes.com@inclementimmigrant to politics • 2 months agomessage-square3
minus-square@AdamEatsAsslink2•2 months agoSo they just need to define the fee? Why not make it illegal to allow overdrafting?
minus-squareJWBananaslinkEnglish4•2 months agoIt was already made illegal (as of mid 2010) without affirmative opt-in by the consumer. https://www.consumerfinance.gov/rules-policy/regulations/1005/17/ Anyone who paid overdraft fees beyond August 15, 2010 affirmatively chose to do so.
So they just need to define the fee? Why not make it illegal to allow overdrafting?
It was already made illegal (as of mid 2010) without affirmative opt-in by the consumer.
https://www.consumerfinance.gov/rules-policy/regulations/1005/17/
Anyone who paid overdraft fees beyond August 15, 2010 affirmatively chose to do so.