Protect Your Own Money: 4 Steps for Responsible Consumers
Friday, November 13th, 2009
As some of you may know, the Federal Reserve recently banned overdraft fees for ATMs and debt card purchases. Starting in July 1, 2010, customers will have to choose to opt-in to overdraft protection or else they will be denied at the register if they attempt to purchase an item without enough money in their account. Banks will also be required to make the details of the overdraft fee protection available and clear to the consumer.
At first, this appears to be a big hooray for the consumer. But the more I thought about the move, the more I disagreed with its intended motives.
Hi, I'm Austin Morgan. I live in Japan, teach English, and write about personal finance. I hope you enjoy FF and feel free to 
