"Uncle Sam Wants Your Opinion on Card Fees"

If your debit card use has ever...in an unexpected overdraft fee, you now have the chance to give the government a piece of your mind: Through Monday, consumers can go online at the Federal Reserve’s Web site to share their thoughts about proposed changes to rules governing overdraft "services" provided by banks, credit unions and other financial institutions. 

In recent years, many banks have begun to automatically enroll consumers in overdraft programs. If you try to withdraw or charge more money on the debit card than you have in your...savings account, the bank doesn’t deny the transaction but rather allows it to go through with an added overdraft fee. 

Those fees can be costly. According to testimony from Sandra F. Braunstein, the director of the Fed’s Division of Consumer and Community Affairs, overdraft fees run especially high for in-store purchases made with a debit card. In such cases, "the overdraft fee may substantially exceed the dollar amount of the overdraft," she says.

DETAILS at: 
usnews.com/blogs/alpha-consumer/2009/3/26/uncle-sam-wants-your-opinion-on-card-fees.html
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