Ever pay $32 for a donut? Many Americans have when banks charged excessive overdraft fees. In July 2010, congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill changed the rules of the bank system-from simplifying the language in the mortgage process, to banning interest rate hikes on credit balances. Now, the bank must offer a choice to enroll in overdraft protection, or not. You can save a lot of money if you choose to opt out, but be sure you have available funds.