State AGs call on JPMorgan, Bank of America, Wells Fargo to eliminate overdraft fees – MarketWatch

New York State Attorney Leticia James on Wednesday called on the CEOs of JPMorgan Chase & Co JPM, -1.03%, Bank of America Corp. BAC, +0.03%, U.S. Bancorp USB, +0.24%, and Wells Fargo & Co. WFC, +0.15% to eliminate all overdraft fees on consumer bank accounts. Joining James in the letter writing effort were the attorneys general of California, Connecticut, the District of Columbia, Delaware, Hawaii, Illinois, Iowa, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, North Carolina (all except Bank of America), Oregon, Pennsylvania, and Washington. James pointed out that Citigroup Inc. C, +0.18% said it would eliminate overdraft fees, along with Capital One COF, +2.16%. Financial Select Sector SPDR ETF XLF, -0.38% is down 3.8% this year, compared to a drop of 6% by the S&P 500 SPX, -0.84%

Source: marketwatch.com