Greg, this one's for you. Bank of America has just announced that it will no longer charge overdraft fees on debit cards, a move that kicks in June 19 just as new federal rules force banks to ask customers to "opt in" to services like overdraft protection. As BofA it turns out customers would prefer to know if they're about to cough up $35 in overdraft fees -- and that they would like to try to avoid them. Huh!
"What our customers kept telling me is just don't let me spend money that I don't have," said Susan Faulkner, the bank's deposit and card product executive, who said the overdraft changes were part of a broader push to build trust among its customers. "We wanted to help them avoid those unexpected overdraft fees."
"What our customers kept telling me is just don't let me spend money that I don't have," said Susan Faulkner, the bank's deposit and card product executive, who said the overdraft changes were part of a broader push to build trust among its customers. "We wanted to help them avoid those unexpected overdraft fees."
