ORIGINATOR OF CHECK OVERDRAFT PROGRAMS PRAISES FED’S PROPOSED RULES TO CORRECT ABUSES John Floyd calls some proposed changes ‘troublesomepotentially burdensome’

HOUSTON, TX โ€” July 27, 2004 โ€” โ€œThe Federal Reserve Board (FRB) is on the right track with its recent ruling on share draft/check overdraft fees and its proposed rules to reign in the abusive practices of some courtesy pay and bounce protection programs,โ€ says John M. Floyd, who originated overdraft programs 16 years ago. [...]