H.R.946 - Consumer Overdraft Protection Fair Practices Act Sponsor: Carolyn Maloney / 110th Congress

Title
110th Congress - To extend the protections of the Truth in Lending Act to overdraft protection programs and services provided by depository institutions, to require customer consent before a depository institution may initiate overdraft protection services and fees, to enhance the information made available to consumers relating to overdraft protection services and fees, to prohibit systematic manipulation in the posting of checks and other debits to a depository account for the purpose of generating overdraft protection fees, and for other purposes. hidemore...
Summary
This bill protects consumers from abusive overdraft loan programs and stops financial institutions from deliberately manipulating their systems to generate more overdraft fees. (by MAPLight.org)
Status
The bill has been introduced.

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Interests who did want this bill to become law included these interests and specific groups:

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Consumer Overdraft Protection Fair Practices Act by Anonymous, Nov 7, 2008 (4:35pm)

I am not surprised to see the majority of the contributions received by Mr. Tom Price are from commercial banks and bank holding companies who do not want this law passed in Congress. This practice of overdraft protection is deceiving and extremely unfair. As a consumer, I urge Mr. Price to vote to pass this bill in order to protect account holders from a system which allows banks to charge exorbitant fees.

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