Senator Dodd says targeting bank overdraft fees

WASHINGTON (Reuters) - The chairman of the U.S. Senate Banking Committee said on Friday that he is working on legislation that would "protect Americans from excessive checking account overdraft fees."

Democratic Senator Christopher Dodd said he plans to introduce the legislation, but he did not say when.

"Excessive, automatic overdraft fees are forcing many American families deeper into debt at a time when they are already struggling to make ends meet," he said. "I am working on a bill to protect consumers from these fees."

Dodd's bill would require that bank customers "opt-in" to overdraft protection programs and prohibit banks from charging consumers overdraft fees without their consent, said a statement from Dodd's office.

(Reporting by Kevin Drawbaugh; Editing by Andrea Ricci)