Interesting News on the new overdraft protection program

Interesting News just in on CNN. Part of a new law put in effect to stop banks from charging many of the fees they have in the past that hurt the consumer, limits the banks from charging the overdraft fees. CNN reports that what the banks are doing are calling the customers and telliing them that they can opt in a program which would keep them from charging a fee if they make a minor overdraft. They will move money from other accounts and not charge the customer. That sounds great but if it’s more than their predetermined amount, it gives them the right to charge you those same fees. However, what most consumers wouldn’t know is that they can’t charge them the fees at all unless they opt into that program Don’t fall victim and share this.