Overdraft-restriction bill is introduced in House

Thirty-nine House Democrats have introduced the Overdraft Protection Act, which limits bank overdraft fees to one per month and six total per year. The legislation isn't expected to be enacted this year but gives lawmakers an opportunity to take a stance on the issue during an election year. The bill also calls for an end to the reordering of transactions from highest to lowest and requires that overdraft fees be proportional to purchases.

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House Dems Introduce Bill to Curb Overdraft Fees - AmericanBanker.com (free registration)

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