Are overdraft fees legal?

Answer It is legal for a bank to charge overdraft fees. However, according to the Los Angeles Times, the Federal Reserve has drafted regulations, set to take effect July 1, 2010, which make it illegal to ... Read More »

Top Q&A For: Are overdraft fees legal

Is it legal to charge overdraft fees when you are already overdrawn?

Overdraft fees are charged to bank customers as a penalty for overdrawing against a banking account. Overdraft fees are charged upon the fact that there is no money in a customer's account and ther... Read More »

How to Avoid Being Charged Overdraft Fees?

Once your bank account has suffered a negative balance due to anything other than a system complication, financial institutions penalize account holders with a charge otherwise known as an overdraf... Read More »

How to Avoid Paying Overdraft Fees on Your Debit Card?

Debit cards make it more convenient than ever to access money in your accounts. With instant cash available with just a swipe of the plastic card, it's often difficult to track spending. Users ofte... Read More »

How to Make Customer Service Reduce Overdraft Fees?

Banks generate over $1.77 billion per year from overdraft fees charged to their customers, according to the Huffington Post. Laws have been passed that give consumers have the option to opt in or o... Read More »