http://online.wsj.com/article/SB125373195407234819.html#mod=WSJ_hpp_sections_news
The U.S. banking industry's signs of retreat on certain account fees mightn't satisfy Washington lawmakers, including some who said Wednesday they are pushing ahead with broad restrictions on fee policies at banks.
.In addition to Bank of America Corp. and J.P. Morgan Chase & Co., the two largest U.S. banks by assets, Wells Fargo & Co. said it will eliminate overdraft fees for customers when they overdraw their accounts by $5 or less and impose no more than four overdraft fees per day. Regional banks Toronto-Dominion Bank, PNC Financial Services Group Inc. and Fifth Third Bancorp also are planning to change some of the ways they charge fees.
House Financial Services Committee Chairman Barney Frank (D., Mass.) said in an interview that he supports the moves by Bank of America and J.P. Morgan. Rep. Frank still plans to push forward with legislation requiring changes in overdraft policies at banks. The Federal Reserve also is considering strict curbs on overdraft fees that could be finalized later this year.
The softened stance on overdraft fees at the two giant banks "confirms that it's doable," Rep. Frank said. "No one else will be able to argue that it's too burdensome
