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Congress considers move to require consumer alerts, updates at ATM
September 30, 2007
The Kansas City Star:Should banks warn consumers of potential overdrafts when they use an ATM or debit card? Congress is considering a bill that would require banks to give consumers a chance to back out of transactions that might cause them to overdraw on their checking accounts. The bill is sponsored by Rep. Carolyn Maloney, a New York Democrat. Banking officials oppose the bill, saying they already provide consumers a service by allowing transactions to go through that save them the embarrassment of a bounced payment.
Trends / StatisticsRegulation / LegislationOtherNorth AmericaBanking Executive SummaryBank / Credit Union
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