Overdraft ProgramsA proposal by the Federal Reserve Board that would require banks to give customers a chance to opt out of overdraft programs before charging them one-time fees on automated teller machine withdrawals or debit card transactions. The central bank is seeking comment on whether banks must get customers' permission before enrolling them in an overdraft program, or must give them a chance to opt out of such programs. The proposal would not apply to overdrafts caused by checks, automated clearing house transactions, or preauthorized transfers. Expected to be published soon in the Federal Register with comments due in 60 days.

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