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Fed: Banks need customer consent for overdraft fees (access required)

by Associated Press

Published: November 12,2009

Time posted: 11:16 am

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WASHINGTON (AP) - Banks will have to secure customers' consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced today by the Federal Reserve. The rule responds to complaints from consumer groups, members of Congress and other regulators that the overdraft fees are unfair because many people ...





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