Banks and credit unions have been making material changes to their overdraft fees and policies with increasing frequency since the middle of 2021. To date, the national banks, large regional banks and a sprinkling of credit unions have led the charge with announcements that make their public relations providers proud.
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In a stunning move, Capital One announced Wednesday plans to scrap overdraft and NSF fees for consumers beginning in Q1 2022. In an email to employees, Capital One CEO, Richard Fairbank, said the move was “our effort to bring ingenuity, simplicity and humanity” back to banking, according to USA Today