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ABA asks agencies to avoid new overdraft requirements

The American Bankers Association, in a letter on Aug. 25, requested banking regulatory agencies, as well as the Consumer Financial Protection Bureau, avoid adding new requirements on overdraft protection programs.

The ABA feels the rule change put into place by the Federal Reserve last August remains effective in its ability to empower consumers to make voluntary choices about coverage and continues to inform them about options and fees.

You can read the ABA's letter by clicking here.

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