House Financial Committee Holds Hearing On The Overdraft Protection Act(Barney Frank)

House Financial Services Committee Chairman Barney Frank (D-MA) presides over a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending.
House Financial Services Committee Chairman Barney Frank (D-MA) presides over a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending.
( - Photo by Chip Somodevilla/Getty Images North America)
House Financial Services Committee Chairman Barney Frank (D-MA) (R) talks with ranking member Rep. Spencer Bachus (R-AL) during a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending. House Financial Services Committee Chairman Barney Frank (D-MA) (R) and ranking member Rep. Spencer Bachus (R-AL) preside over a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending. House Financial Services Committee Chairman Barney Frank (D-MA) (R) talks with ranking member Rep. Spencer Bachus (R-AL) during a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending. House Financial Services Committee Chairman Barney Frank (D-MA) (R) talks with ranking member Rep. Spencer Bachus (R-AL) during a hearing about overdraft fees levied by banks on Captiol Hill October 30, 2009 in Washington, DC. The committee is considering legislation called "The Overdraft Protection Act of 2009," which would add limitations and regualtion to how banks and credit unions make consumers pay overdraft fees. Pulling in $23.7 billion in overdraft fees last year, banks made 35% more money off overdraft fees in 2008 than they did just two years earlier, according to the Center for Responsible Lending.
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