Overdraft fees, loan practices targeted
Massachusetts lawmakers will consider new rules today to protect consumers from abuses involving overdraft charges on bank accounts, unsolicited loans from financial institutions, and reverse mortgages. For instance, State Senator Steven Baddour, a Democrat from Methuen, has filed a bill to require institutions that mail unsolicited loan offers – such as the checks sent out by many credit card companies – to comply with a set of conditions. The companies would be required to allow consumers to
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Tags: Bank, Credit, Credit card, house, Law, Loan, loans, Mortgage, Mortgages, offers, Reverse Mortgages