inclementimmigrant@lemmy.world to politics @lemmy.world · 15 days agoNew Federal Rule Limits Overdraft Fees at Large Bankswww.nytimes.comexternal-linkmessage-square3fedilinkarrow-up155arrow-down10
arrow-up155arrow-down1external-linkNew Federal Rule Limits Overdraft Fees at Large Bankswww.nytimes.cominclementimmigrant@lemmy.world to politics @lemmy.world · 15 days agomessage-square3fedilink
minus-squareAdamEatsAss@lemmy.worldlinkfedilinkarrow-up2·15 days agoSo they just need to define the fee? Why not make it illegal to allow overdrafting?
minus-squareJWBananas@lemmy.worldlinkfedilinkEnglisharrow-up4·15 days 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.