NEW YORK ( TheStreet) -- Federal Reserve rules on checking accounts started this past weekend, and some Americans may be surprised by the changes, especially this one: Overdraft protection is no longer available for checking accounts unless customers "opted in."Before these Federal Reserve rules took effect, most banks automatically added overdraft protection to checking accounts, providing the details and fees in the fine print. Some customers didn't realize the high price of the fee until they incurred the charge.
Beware New Checking Account 'Opt-In' Rules
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