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U.S. banking giant Bank of America said it would revamp its overdraft policy, lowering fees and offering customers a chance to opt out of overdraft coverage. The bank said on Oct.
Sen. Christopher Dodd, D-Conn., is preparing a bill to prevent U.S. banks from hitting clients with overdraft charges without their permission. People out there are getting whacked.
The California Supreme Court has sided with Bank of America Corp., saying it can charge overdraft fees on accounts that include Social Security deposits. In the ruling, the bank overturned a 2004 ruling that sided with depositors, some of whom lost 20 percent of their Social Security benefits to overdraft fees as soon as the monthly benefits were deposited, The Los Angeles Times reported Tuesday. The case relied on a 1974 court ruling that said banks could not take government benefits to...
U.S. financial giant Bank of America Corp.
- The act of burning, scorching, or heating to dryness; the state or being thus heated or dried.
- In medicine, cauterization.