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March 10, 2010

Bank of America to End Overdraft Fees on Debit Purchases
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The banking giant Bank of America has announced it will end overdraft
charges on debit card purchases. Customers with insufficient funds will
now have their purchases declined instead of being hit with large fees.
The decision comes amidst a federal push to regulate overdraft fees. The
Federal Reserve has proposed to bar banks from charging overdraft fees
without consumer consent. Banks collected at least $32 billion dollars
in overdraft fees last year.



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