Overdraft Fees for Fannie, Freddie. The Federal Reserve Board of Governors approved a policy April 20 that will end the Fed's waiving of daylight overdraft fees for government-sponsored enterprises, including Fannie Mae, Freddie Mac and Sallie Mae. The new policy will go in effect Oct. 13. It will make the GSEs subject to a 24-basis point fee for any overdraft they incur, the same as depository institutions. The Fed said analysis of the data suggested that the GSEs' daylight overdrafts are largely related to regular payments of principal and interest on the securities they issue.
Save $400 off your subscription. Special offer ends April 30, 2017.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In