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Banks shouldn't count on overdraft fees forever

Sunday, January 6, 2019
Kevin Wack | American Banker

Over the summer, Democratic Sens. Cory Booker of New Jersey and Sherrod Brown of Ohio introduced legislation that would take a large bite out of the roughly $15 billion that banks collect annually from overdraft fees.

Their bill would ban such charges on debit card purchases and ATM withdrawals. It would also prohibit banks from charging more than six overdraft fees each year to the same customer.