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News Link • Federal Reserve

Fed: New Rules Would Restrict Overdraft Fees on Debit Cards

• NY Times
The Federal Reserve announced new rules on Thursday that would sharply restrict banks and others that issue debit cards from charging overdraft fees without the express permission of the cardholder. The rules, which take effect next summer, are the latest issued by the Fed after criticism that it did not move quickly and aggressively enough to root out deceptive and abusive consumer lending practices.

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