Bank of America ends overdraft fees on debit cards

FILE - In this Oct. 16, 2009 file photo, customers use ATMs at a Bank of America branch office, Friday, Oct 16, 2009 in Boston. The Federal Reserve has issued a new rule that will prohibit banks from charging overdraft fees on ATM and debit card transactions unless a customer allows it. The new rule will take effect July 1, 2009. (AP Photo/Lisa Poole, file) (AP Photo/Lisa Poole, file)

March 10, 2010 8:10:55 AM PST
Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It's a step that may become a common move ahead of new regulations limiting overdraft fees.