OTTAWA — Ottawa has put in place new rules limiting the fees banks can levy on customers who don’t have enough in their accounts to cover a cheque or other pre-authorized charges. The updates, included in an order-in-council last week, cap non-sufficient funds fees at $10 for personal deposit accounts, prohibit charging more than one […]
    • CowsLookLikeMapsOPEnglish
      6·
      2 days ago

      The $50 fee was ridiculous. $10 is still dumb but way more manageable.

      • TheTechnician27@lemmy.worldEnglish
        8·
        2 days ago

        A proposed rule to require a warning to customers about a potential charge and to give a grace period to fix the problem appears to have been dropped, as was a requirement that banks disclose statistics on the fees such as total revenue and total number of NSF fees charged.

        This part’s definitely bullshit.