WKSU: Sherrod Brown announces bill to combat overdraft fees

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WKSU: Sherrod Brown announces bill to combat overdraft fees

Ohio’s U.S. Senator Sherrod Brown announced a bill to combat predatory overdraft fees today.

Brown says banks are reordering transactions from largest to smallest instead of in the order they occur so the banks can charge more overdraft fees. He says these fees are an average of $34per overdraft.

Brown says his bill will require banks to disclose their policy on how they order transactions so consumers can avoid the fees.

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