Overdrafts

Readers opine on prospects for the midterm elections, respond to Facebook's forays into collecting bank data, weigh in on new overdraft legislation and more.

There’s much for banks to like — and for consumer advocates to dislike — in a report on the industry's overdraft policies released Tuesday by the Center for Responsible Lending.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals — a move that could negatively impact a major credit union revenue stream.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals.

Federal bank regulators consider roughly a dozen new rules; firms tout tools to help financial institutions bank legal marijuana-related businesses; Mick Mulvaney defends CFPB enforcement powers; and more from this week's most-read stories.

Its noninterest expense rose 17% from a year earlier, in part because of costs stemming from its recent overdraft protection settlement with federal regulators.

The bank also agreed to pay a $5 million fine to settle allegations over how it obtained consumers' consent.

The suit against Alliant Credit Union comes just weeks after trade associations said firms were using social media ads to target plaintiffs for a potential class-action case.

These teens and early 20-somethings are hardworking, frugal, prudent, debt averse and fiercely opposed to fees — much like their great-grandparents who grew up during the Depression.

How the big banks fared in the Fed's latest round of stress testing; what's on new FDIC chair Jelena McWilliams' plate; why banks' biggest risk factor may be employees who don't speak up; and more from this week's most-read stories.