The Washington Independent

Tuesday, May 29th, 2012

Posts Tagged finance reforms

Dodd to Introduce Bill Tackling Overdraft Fees

By | 09.18.09 | 9:49 am

Senate Banking Committee Chairman Chris Dodd (D-Conn.) will soon unveil legislation to rein in the overdraft fees that banks charge consumers who exceed their balances with debit card purchases, American Banker reported Thursday (subscription required).

The bill is sure to provoke an outcry from the banking More…

House Dems Ask Fed to Curb Overdraft Fees

By | 05.28.09 | 6:02 pm

Having recently passed long-anticipated credit card reforms, some powerful House Democrats are now putting their weight behind efforts to rein in overdraft fees — the charges applied when consumers (often unknowingly) exceed their balance on debit purchases.

Those fees have become an enormous profit engine for banks, generating $17.5 More…