Regions Bank to eliminate non-sufficient funds fees in the coming months

MW Regions Bank to eliminate non-sufficient funds fees in the coming months

Regions Financial Corp. $(RF)$ said Wednesday its Regions Bank subsidiary will eliminate non-sufficient funds fees by the end of the second quarter, as the regional bank matched moves made recently by $Bank of America Corp(BAC-N)$. $(BAC)$ and Wells Fargo & Co. $(WFC)$. The regional bank's stock rose 0.8% in premarket trading. Regions said it will also eliminate overdraft protection transfer fees by the end of the first quarter, and will lower the number of Paid Overdraft Item Fees that can be charged on consumer banking accounts to three per day. The bank also said that it will make consumers' paychecks available up to two days before the regular payday, if their employer uses direct deposit. Regions' stock has rallied 8.7% over the past three months through Tuesday, while the SPDR S&P Bank ETF $(KBE)$ has climbed 6.5% and the S&P 500 has gained 1.3%

-Tomi Kilgore

$(END)$ Dow Jones Newswires

January 19, 2022 09:15 ET (14:15 GMT)

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