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Bank of America, JP Morgan rethinks overdraft fees


Last night, Chase Morgan and Bank of America announced a rethinking of overdraft fees. No longer will you be charged for a ‘small’ purchase ($under $10) that causes you to overdraft. If within 5 days, your account is not leveled back to zero or positive, you will then be charged $35. They also put a cap of of four overdraft in fees in one day. This totals for $140 in one day. They also have now an option to opt out of overdraft protection.

via [Yahoo]