Thegrio Politics
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Capital One Become First Major US Financial Company to Ditch Overdraft Fees
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December 2, 2021
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Dec 2, 20211:42Now PlayingThe company announced the end of overdraft fees for its retail customers on Dec. 1.
“We will completely eliminate overdraft and non-sufficient funds [NSF] fees for all Capital One consumer bank customers,” said Rich Fairbank, Capital One CEO. In doing so, the company forgoes nearly $150 million in yearly revenue accrued by such fees. Overdraft fees have been criticized by customers and consumer groups for years.
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