FDIC offers banks suggestions on overdraft programs

08/12/2010 | NYTimes.com

The Federal Deposit Insurance Corp. has issued guidance on how banks should handle their overdraft payment programs to help customers. The agency wants the lenders to ensure that consumers are not using the programs as a form of credit. The FDIC said banks should "monitor accounts and take meaningful and effective action to limit use by customers as a form of short-term, high-cost credit."

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