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January 28, 2010

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Comments

Greg Daniels

waht are most CU's doing to have members opt-in for over the limit fees? Do you know of any CU's stopping this practice?

Anthony Demangone

Hi Greg,

I don't have a grip on what the industry is doing as a whole. But I am aware of many creditors that are doing away with the fees.

- Anthony

Diane Hatcher

After reading up on the subject, looks like the easiest way to comply would be to not charge overlimit fees. As small as our credit card portfolio is, it would be too time consuming (time is money) to monitor an opt-in/opt-out system. The cost would outweigh the benefit.
I wish the law makers would understand these are fees that are AVOIDABLE and are in place to teach financial responsibility.

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