WASHINGTON — House Democrats introduced a bill Wednesday designed to address concerns about the fees banks charge consumers when a checking account is overdrawn.

The Overdraft Protection Act, co-sponsored by 46 lawmakers including the House Financial Services Committee's two top Democrats, Reps. Maxine Waters of California and Carolyn Maloney of New York, would codify a 2010 Federal Reserve Board rule requiring consumers to "opt in" for overdraft protection. It would also cap the number of fees institutions can charge an individual for overdrafts to one per month and six per year, and requires those fees to be "reasonable and proportional" to the amount of the overdraft.

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