Regions Financial Joins Fintechs in Ditching Overdraft Fees
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Regions Financial Corp. introduced a checking account free of overdraft and insufficient-fund fees, the latest bank to adopt features popularized by fintechs.
The Regions Now Checking account charges a monthly $5 fee, the company said Thursday in a statement. It’s a turnaround for the Birmingham, Alabama-based bank, which relied on consumer overdraft charges for almost 5% of its 2020 revenue, according to a June note from Morgan Stanley.