Ally Financial Ends Overdraft Fees

(CBS DETROIT) – Detroit-based Ally Financial is ending its overdraft fees.

It will be the first bank in the nation to make the move, ending its $25 overdraft fee across its entire business.

Ally cites the impact the fee had on Black and Latino households as the main reason.

It also expects by removing the fee, it will reduce stress on customers and simplify how their accounts work.

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