Bank of America to stop debit card overdrafts
Submitted by meekandmild on Wed, 03/10/2010 - 17:36
in
NEW YORK – Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It's a step that may become a common move ahead of new regulations limiting overdraft fees.
Rules set by the Federal Reserve that will ban banks from charging such fees, without first getting permission from the customer, are set to take effect July 1.
But Bank of America is going a step further than the regulations require. It will simply no longer allow debit card purchases to go through if there isn't enough money in the account.
http://news.yahoo.com/s/ap/20100310/ap_on_bi_ge/us_overdraft...
Their bank...
their rules. Can you spend more cash than you have in your wallet? Unfortunately, though we are constantly being robbed, it is our fiscal irresponsibility that is coming down on our heads. Many of us here have practiced economic responsibility or are putting it in practice, but as a society that is not the case. The bankers will not let their system fall for our poor habits, they'll just increase the intensity of the slave trap. Our option is to leave the fields they've sewn with their weapons and travel by the roads of sovereignty, something they cannot control, nor truly comprehend.
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