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Chase, Bank of America change overdraft policies
Faced with the prospect of legislation and possibly a Federal Reserve-imposed regulation, two of the nation's largest banks have decided to change the way they handle overdrafts and what they charge customers.
This has become a source of billions in revenues for all banks. And major irritation for consumers.
Not an easy knot to untie. Chase and Bank of America have made a start. Good news.
http://www.sun-sentinel.com/business/yourmoney/sfl-overdraft-092309,0,783281.story
Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...
