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FDIC Chief Calls for Restrictions on Overdraft Fees
harveymathis37
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10-1-2009 12:18 AM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0f49697b-a06e-4dc2-a029-7cff34f8a119/006C052B-F6B9-4BB9-8B41-0BB6EC0A186E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://slatest.slate.com/id/2229806/?wpisrc=newsletter" href="http://slatest.slate.com/id/2229806/?wpisrc=newsletter" style="font-size: 11px;">slatest.slate.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://slatest.slate.com/id/2229806/?wpisrc=newsletter"><H1>FDIC Chief Calls for Restrictions on Overdraft Fees</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://slatest.slate.com/id/2229806/?wpisrc=newsletter"><P>Sheila Bair, head of the Federal Deposit Insurance Corporation, <STRONG>called upon the Federal Reserve Bank to finalize regulations</STRONG> on checking account overdraft fees, after several major <STRONG>U.S. banks changed the way they assess customers</STRONG> last week. For example, early next year, Chase plans to stop allowing overdrafts and assessing a fee unless account users have agreed to the service. Banks stand to earn a record <STRONG>$38.5 billion in overdraft fees</STRONG> by the end of 2009, so some worry that restrictions could curtail the banking industry's recovery. Bair also proposes that <STRONG>overdrafts be treated as loans</STRONG>.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/006C052B-F6B9-4BB9-8B41-0BB6EC0A186E/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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