Democrats relaunch crackdown on bank overdraft fees
CNN
Democrats are once again taking aim at dreaded bank overdraft fees.
New York Congresswoman Carolyn Maloney reintroduced legislation on Wednesday that would crack down on overdraft fees, making it illegal for banks to charge more than one fee per month. The bill, which is very similar to legislation Maloney sponsored in previous years, would also require that these fees are proportional to the amount of the overdraft and the cost to banks for providing coverage for the transaction.
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