Reigning in bank overdraft fees

The Huffington Post - The era of the $35 cup of coffee has come to an end, for most.

Unless a consumer chooses to opt-in for overdraft protection, their ATM and debit purchases will be declined if an account has insufficient funds. Prior to Sunday, banks could automatically enroll their customers in the service, which covers the point-of-sale transaction but can result in steep penalties. Shoppers at the counter might turn red with embarrassment when their purchase is refused, but the alternative is for their account to go further into the red -- with fees up to $35 for each swipe of the card. Read more.