Ally Bank scraps overdraft fees for all customers, citing racial impact
CBSN
Customers at Ally Bank will no longer be charged a $25 overdraft fee no matter what type of account they hold, the company said Wednesday.
In announcing the new policy, Ally said fees for insufficient funds disproportionately harm low-income households living paycheck to paycheck as well as Black and Hispanic families. Ally, an online bank and unit of publicly held Ally Financial, joins Discover as one of the few banks that no longer charge overdraft fees. Ally is also eliminating overdraft fees to reduce stress on its customers and simplify how their accounts work, said Diane Morais, Ally's consumer and commercial banking president.On Nov. 13, 2016, Dr. Eric "Scott" Sills, a renowned California fertility doctor, called 911 and reported finding his wife and business partner Susann Sills unresponsive at the bottom of the stairs. An initial investigation revealed some evidence that was consistent with an accidental fall. But as "48 Hours" correspondent Tracy Smith reports, other evidence pointed to something more sinister. DETECTIVE: How do you know she — she got an email? MARY-KATHERINE SILLS: I woke up and my dad was just like on the covers just laying there like there wasn't enough room to get in I guess. So, he was just laying there.