The banking regulations emerging from The Current Occupant have not only sucker-punched IRAs and college funds of the middle class, but also their every day banking costs. How? An article in the STRIB explains the basics:

In July, new Federal Reserve regulations will prohibit banks from charging overdraft fees on ATM and debit card transactions unless customers “opt in” to overdraft protection. For TCF and other banks, overdraft fees are a major revenue source.

The new rules will protect consumers who unknowingly overdraw their accounts and then get blindsided with overdraft fees. [Note the little editorial insert "blindsided."]

As a result of losing income from overdrafts, TCF will need to garner their income elsewhere. So goodbye free checking account.

But that’s The Current Occupant’s worldview; protect the irresponsible at the expense of those who do the right thing.