Truist cuts down overdraft fees, joining other big banks

By KEN SWEET
AP Business Writer

NEW YORK (AP) — Truist Bank says it is reducing its overdraft fees. It’s the latest big bank to announce a substantial overhaul of overdraft policies that often impact the most vulnerable customers. The North Carolina-based bank plans to roll out a new checking account this summer that will have a $100 buffer for customers who spend more than they have in their accounts. It will also create a line of credit for those who need to go further into negative territory. The bank is also eliminating bounced-check fees.