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Cities across the Nation Call for Overdraft Protection Reform
In formal comments to the Board of Governors of the Federal Reserve System, CFE strongly supported new regulations requiring banks to obtain consent from new account holders before enrolling them in fee-based overdraft protection plans, ending the practice of automatic “courtesy” enrollment. CFE further supported giving existing account holders a choice about whether or not to participate in costly “courtesy” overdraft programs.
Read the press release
Read CFE’s comments
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