This Wall Street Journal article states that overdraft fees of $35 will be eliminated. When a consumer tries to purchase something in the near future and does not have the necessary funds, the transaction will now be denied at the point of sale. The only way they could do that again is if consumers choose to do it so that they won't be denied and then get charged the fee.
I think that with so many things going wrong now, it is great to see that this bank cannot get away with doing this. I have been hit with this fee a few times and it was infuriating knowing that they simply could have denied me then rip me off. That is the way it made me felt.
http://online.wsj.com/article/SB10001424052748704784904575112430638527738.html?mod=rss_Today's_Most_Popular
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