The Board wants overdraft changes
The Federal Reserve Board, Office of Thrift Supervision and National Credit Union Association are at it again, and payday loans are looking better than ever when compared with having to deal with overdraft charges on your checking account.
To recap for those of you who aren’t familiar [...]
Unlike payday loans that are required by the Truth in Lending Act (TILA) to clearly publish and inform consumers of terms, conditions and percentage rates charged, bank overdraft fees are deceiving customers. They lead them astray by not giving them to option to inform their bank whether they want this [...]