Why more banks are weaning themselves off overdraft fees.

Unlike Ally, Huntington has no current plans to eliminate overdraft fees entirely, but Steinour said that he views Standby Cash as an alternative for consumers who want to avoid overdraft fees. For several decades, U.S. banks reaped huge revenues from fees charged to customers who spent money they didn't have, while also enduring a consumer backlash that tarnished their reputations. [Extracted from the article]

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