Bank of America to end debit card over draft fees

Bank of America recently announced they will end charging the $35.00 over draft fee for those who try to use their debit card for a transaction that will result in a negative balance on their checking account. This is a great move and one more step towards common sense in the banking industry.  Don't spend money you don't have.

Rules set by the Federal Reserve that will ban banks from charging such fees, without first getting permission from the customer, are set to take effect July 1st, but Bank of America is going a step further than the regulations require. It will simply no longer allow debit card purchases to go through if there isn't enough money in the account.

For ATM withdrawals, customers who try to withdraw more than their balance will have to agree to pay a $35 overdraft fee before they can proceed with the transaction.  This should take effect June 1st for new accounts and in August for existing customers.

Dave Ramsey fans eliminate at least $23 million in debt in 2009!

It was a very good year for people turning their lives around in 2009. Throughout the year, between Dave Ramsey radio show listeners who call into the show on Fridays and scream "I'M DEBT FREE!" and viewers of his Fox 2 show, they eliminated a combined $23,972,100 in debt during the year!  Keep in mind, the amount of debt paid off is much more than that as it does not include those who are eliminating their debt through the Financial Peace program at locations throughout the country and those who call into the show on other days and listeners taking care of business who do not call in.

Dave Ramsey is everywhere! Whether it's on radio and television or in books and newspapers, Dave is spreading his message of debt-free living through all forms of media. Each day, he offers callers and readers life-changing advice on how to beat debt, build wealth, and change their family trees forever.

For more information or to find a local radio station where you can hear Dave, visit www.DaveRamsey.com