Fed's newest bank rule limits overdraft penalties

Washington : DC : USA | 20 days ago

The Federal Reserve will begin banning banks from charging many overdraft fees unless customers sign up for the service, an unprecedented move that comes as a wave of consumer reforms sweeps ...

Tags: Federal Reserve Board, overdraft fees, debit cards, Fed Restricts Bank Overdraft, ATM, Fed Slaps Curbs, financial institutions, overdraft protection, reserve announced, cards transactions

Credit card legislation moves toward Senate showdown

Kansas City : MO : USA | 27 days ago

The House voted to move up the start date of a law that limits rate increases on existing credit-card balances, after lawmakers said banks are heaping finance charges on cash-strapped consumers. The ...

Tags: credit card, House of Representatives, house vote

House accelerates credit card rules

Birmingham : AL : USA | 28 days ago

Responding to consumer frustration over rising credit card rates, the House on Wednesday approved legislation to accelerate the implementation of new laws to crack down on abusive practices by credit ...

Tags: credit card, House, card rules, card reform, card rate, card companies, house votes

Frank says overdraft protection should be 'opt-in'

Washington : DC : USA | about 1 month ago

Bank overdraft fees as high as $39 on debit card transactions aren't "favors" for consumers if they haven't asked for them, House Financial Services Committee Chairman Barney Frank said. "We wouldn't ...

Tags: Senate Banking Committee, overdraft fees, Barney Frank, overdraft protection