Alliant Credit Union, a digital-only credit union with a national reach, said it will stop charging customers fees when they overdraw their accounts.
The Chicago-based credit union’s announcement follows a similar one made by Detroit-based lender Ally Bank in June, and comes as a growing number of financial institutions are revamping their overdraft policies amid pushback from Democratic lawmakers.
Qualified members can still overdraw their accounts, said Dennis Devine, president and CEO of Alliant, but the credit union will simply stop charging customers the overdraft fee.
