Here's a look at what's news in banking and finance this morning:
- How many overdraft fees should a bank collect from a single customer per day? The Huffington Post takes a look at the issue in light of the Consumer Financial Protection Bureau's new interest in overdraft fees. Bank of America caps the number at four, meaning it will take up to $140 in overdraft fees per day. BB&T set the limit at eight, which would add up to $280.
- Speaking of overdraft fees, Forbes magazine says Bank of America, JPMorgan Chase and Wells Fargo in particular are due for more discomfort as the CFPB's probe begins.
- Banks are hopeful that a rise in business spending could mean the start of an economic recovery, Reuters reports.
- The banking lobby pushed regulators crafting the Volcker Rule to include restrictions on foreign firms in a bid to get foreign governments on their side, Bloomberg says.