Congress

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Federal regulators have failed to eliminate abuses in bank overdraft systems. Past Congressional proposals would have more thoroughly addressed abuses, by requiring that the size of the fee be related to the cost of the covering the overdraft, and that banks charge no more than one of these average $34 fees per month or six per year. Congress could also ban the outrageous practice of re-ordering customer transactions in a manner that triggers more overdraft fees.

Browse Overdraft Loans - Policy & Legislation - Congress