Congress to Consider Bill To Make It Easier to Close a Bank Account
Consumers are logging complaints about how difficult it can be to close a bank account. In addition, once an account is closed it may be reopened to make payments that can generate overdraft fees. The proposed bill would, among other things, allow a consumer to close an account, regardless of the balance, without a fee and prohibit a financial institution from reopening the account without the consumer’s consent. [10/14]