Capital One Ends Overdraft Fees - Fact or Strategic Rebranding?

<p><strong>Capital One made waves on this December 1st by </strong><a href="https://www.capitalone.com/about/newsroom/eliminating-overdraft-fees/" target="_blank"><strong>announcing it was getting rid of overdraft fees.</strong></a></p> <p><strong>While that sounds all well and good, their CEO Richard Fairbank mentioned that it will require an enrollment in an Overdraft Protection program to begin the no-overdraft fee banking.</strong></p> <p><strong>Well, if you are "getting rid" of them, why do I need "protection" from something that isn't there, Richard?<br> My podcast discusses how I believe it is a strategic rebranding of Decline All overdraft setting, equipped with an "enrollment" (aka cross-sell) of a savings account and/or credit card (which Cap One is known for with their Samuel L Jackson Commercials) which will further encumber some people into debt.<br> <br> I discuss how other banks rebranded their fees, and I anxiously await more clarity from Capital One on what this really means for people!</strong></p> <p><br></p> <p><strong>Links to articles about the story</strong></p> <p><a href="https://www.cnbc.com/2021/12/01/capital-one-says-its-ditching-all-consumer-overdraft-fees.html" target="_blank"><strong>CNBC - Hugh Son</strong></a></p> <p><a href="https://www.cbsnews.com/news/capital-one-ends-overdraft-fees/" target="_blank"><strong>CBS News</strong></a></p> <p><a href="https://money.yahoo.com/capital-one-ditch-overdraft-fees-162432721.html" target="_blank"><strong>Yahoo! Money</strong></a></p> <p><br></p> <p><strong>TNB Has recovered nearly $2 Million from big banks back to consumers, with nearly $500k of it being Zelle fraud!</strong></p> <p><a href="https://www.amazon.com/gp/product/B09KNCY4S8?pf_rd_r=SG9RN8B36611DCHG7KFN&amp;pf_rd_p=1ab92b69-98d7-4842-a89b-ad387c54783f&amp;pd_rd_r=73d791cb-dfa7-41d4-bac2-9188c72cc508&amp;pd_rd_w=fr0Wr&amp;pd_rd_wg=Hd810&amp;ref_=pd_gw_unk"><strong>Buy My Book "PLEASE TRY YOUR CALL AGAIN LATER"!!! $1 of Net Proceeds will go to charity.&nbsp;</strong></a></p> <p><a