BofA Scraps Plan To Let Customers Opt In To Overdraft Fees

BofA Scraps Plan To Let Customers Opt In To Overdraft Fees

As it paid out $410 million to settle a class-action suit over reordering transactions to maximize overdraft fees and backed down after initiating a $5 monthly fee for debit card users, Bank of America has done some soul-searching. The bank says it’s decided not to go ahead with a plan to let customers opt in to a $35 overdraft fee on debit purchases made with insufficient funds. [More]