Pay attention before you end up in debt!
atleast this law will let people understand what they got themselfs into so that they can take care of it before it becomes a problem, overdrafts on a credit card is not as serious as banks.
A law was also passed that are forcing banks to tell you if you want overdraft protection or not, for those that dont balance their checking account I would reccomend not to accept overdraft protection. The banks overdraft protection to them is charging you a fee, if you do opt for overdraft protection make sure you link it up to a saving or credit card. Now a days they still charge a $5 to $10 dollar a fee even if its linked to another account. So the best solution is only spend money you have!!!. The banks will start telling people about the overdraft protection (aka rip off) by July 1st.
So if your tired of overdraft fee for not keeping track of your charges you will be able to opt out from any bank or credit union by July 1st. Some banks already have the choice like Bank of america.
These might seem like small changes in law but the reality is it will stop from these financial institution from getting rich by screwing you.