FDIC eases stance on strict overdraft guidance

04/8/2011 | AmericanBanker.com (free registration)

The Federal Deposit Insurance Corp., led by Chairman Sheila Bair, has eased up on its overdraft guidance, a significant cause of concern for bankers. Instead of requiring banks to get in contact with customers who repeatedly incur overdraft charges by phone or in person, the FDIC will allow banks to use periodic statements to reach such clients.

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