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Fed asks banks to waive some fees

September 1, 2005

MarketWatch:The Federal Reserve and other financial regulators on Sept. 1 asked banks to assist hurricane-hit customers by waiving ATM fees and overdraft charges, and to ease credit terms for new loans. Those steps were some of many recommended by the Fed, the Federal Deposit Insurance Corp., state banking regulators and other authorities as residents of Mississippi, Louisiana and other states recover from the massive damage inflicted by Hurricane Katrina. Other relief recommended by the Fed includes increasing the amount of cash customers may withdraw in one day from an ATM, easing restrictions on cashing out-of-state checks, allowing loan customers to skip or delay some payments and waiving late fees for credit card and other loan balances.

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