(CBS DETROIT) – Detroit-based Ally Financial is ending its overdraft fees.
It will be the first bank in the nation to make the move, ending its $25 overdraft fee across its entire business.READ MORE: Beaumont Health, Spectrum Health Plan To Merge, Operate 22 Hospitals
Ally cites the impact the fee had on Black and Latino households as the main reason.READ MORE: Michigan Reports 172 New COVID-19 Cases, 20 Deaths
It also expects by removing the fee, it will reduce stress on customers and simplify how their accounts work.MORE NEWS: Judge Greg Mathis To Build New Community Center, Affordable Housing On Detroit's Westside
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