Pentagon Federal Credit Union President/CEO Frank Pollack is scheduled to be one of five witnesses to testify at Tuesday's Senate Banking Committee hearing on legislation to restrict overdraft fees.
Pollack is slated to appear along with representatives of Citibank, two consumer groups and a private citizen from Connecticut, the home state of Senate Banking Committee Chairman Christopher Dodd, the sponsor of the legislation.
Dodd's legislation would require credit unions and banks would have to gain a member's or customer's permission before enrolling them in an overdraft protection program and could only charge fees once a month or six times per year.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
