Stop unfair overdraft fees from late night PPD, ACH and Check withdrawals.

Require all banks to give 24 hour notiification before deductions are made for PPD, ACH and Checking transactions. Any PPD, ACH or Check withdrawals after normal business hours will be deducted the next business day. This will insure a person has a reasonable time to correct an overdraft error, therefore eliminated unfair overdraft fees. All banks can only charge "one" overdraft fee per PPD, ACH or checking transaction that results in a overdraft of an account, after the 24 hour grace period.

A majority of banks create PPD (Prearranged payment or deposits) or ACH (Automatic payment or Automatic Clearing House) after normal banking hours between 5 pm and 11:59 pm. If your account is over drawn due to late night PPD or ACH “batch” processing system that handles millions of payments at the end of the day, banks charge a overdraft fee. Good Banks give you "pending transaction" notice. However most of the larger banks wait until 11:59 pm with not notice and charge you a overdraft fee if your account is low.

The CFPB found that 61 percent of bank profits from consumer checking accounts come from overdraft and insufficient funds fees. Overdraft fees may range from $30 to $37 per infraction. Currently, overdraft fees can be charge multiple times for the same PPD or ACH in a single day. In 2012 Banks and Credit Unions made over $32 Billion in profit using overdraft schemes.