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Cake day: June 1st, 2023

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  • Second sentence in the article: “Under the proposal, banks could continue to charge fees when a customer’s account falls below zero…” – that’s what it is. Back in the day, if you wrote a check for more than you have in your account, the bank would not only bounce the check (refuse to pay so the check holder wouldn’t get your money at all), they’d charge a fee on top of that so your balance would go even lower (sometimes below zero).