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The Federal Reserve says that banks must to acquire consumer go-ahead prior to imposing overdraft fees After all the uproar that banks have started regarding overdraft fees for ATM and debit card dealings, the Federal Reserve has put a new regulation in position that requires banks to get their customers’ approval before they are able to charge surcharges due to an overdraft. The rule is to go into effect on July 1st. “Flash Trading” may perhaps be no more, fortunately. Flash commands give some traders an advantage in the acquisition or sale of their stocks. The gain is only a split second advantage, but it is enough to get the thought of the SEC.