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Regulators’ overdrafts concerns

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Question: 
What’s the latest word on overdrafts and overdraft fees?
Answer: 

There’s been an ongoing return to “regulation by enforcement,” as banks are being cited for “unfair or deceptive acts or practices” in their handling of overdrafts and charging of fees. Regulators continue their concerns over the use of “available” over “ledger” balances in determining whether an overdraft has occurred. No new regulatory changes were made, however.

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First published on 01/21/2024

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