TITLE

Overdraft Limits Could Cost $15 Billion

PUB. DATE
November 2009
SOURCE
American Banker;11/25/2009, Vol. 174 Issue 212, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Federal Reserve Board was planning to ban overdraft fees on debit cards and automated teller machines (ATMs). The move was protested by Michael Poulos of Marsh & McLennan Cos., who said that banks had counted on collecting $15 billion dollars in profits by charging such fees. Poulos argued that banks needed the money, and would simply invent other fees to make up the shortfall.
ACCESSION #
45508767

 

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics