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Banks Slowly Offer Alternatives to Overdraft Fees, a Bane of Struggling Spenders



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“The most egregious practices are largely the same as they have been for nearly 20 years,” said Rebecca Borné, a senior policy counsel at the Center for Responsible Lending, an advocacy group. “Charging a fee averaging $35 apiece for things that cost the bank very little, charging overdraft fees on small debit transactions, charging up to $140 in fees in a single day and calling that a limit.”It’s not clear whether the Consumer Financial Protection Bureau or other regulators will pursue any changes. “Overdrafts have the potential to be very costly for consumers,” a bureau spokeswoman said, “and we are continuing …

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