Citigroup Becomes First Major U.S. Bank to Fully Ditch Overdraft Fees
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Citigroup Inc. became the first major U.S. bank to fully eliminate overdraft fees as politicians and consumer advocates criticize the charges for their disparate impact on low-income consumers.
The New York-based company will ditch the penalties along with returned-item and overdraft-protection charges by this summer, according to a statement Thursday.