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Fed OKs strong rules blocking overdraft fees

Nov. 12, 2009
Bank customers won't be charged overdraft fees on cash withdrawals or one-time debit-card purchases that exceed their account balance unless they've agreed to such fees, under a rule approved by the Federal Reserve today. The Fed's overdraft rule is stronger...
Related Stories from UPI.com
Fed changes overdraft rules

Fed changes overdraft rules

WASHINGTON, Nov. 12 (UPI) -- The U.S. Federal Reserve has closed the option for banks to charge overdrafts fees on two common transactions unless the consumer agrees to allow the fees.

Fees precede transactions at some banks

NEW YORK, Aug. 4 (UPI) -- Some U.S. banks are charging overdraft fees before accounts are technically overdrawn, sources said.

Report: Banks coy on fee schedules

WASHINGTON, March 2 (UPI) -- Many U.S. banks ignore federal regulations requiring that customers get information about fees and interest rates on their accounts, a federal report says.

Study: Debit card usage up

NEW YORK, Jan. 26 (UPI) -- U.S. consumers are using debit cards for financial transactions four times more frequently than they did nine years ago, according to MarketResearch.com.

Wal-Mart to limit debit card use

NEW YORK, Dec. 3 (UPI) -- Wal-Mart Wednesday prepared a new credit card formula, becoming the first retailer to play off Visa against MasterCard.
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President Obama awards the Presidential Medal of Freedom in Washington
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President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch