I thought banks weren't allowed to set up overdraft charges without your consent anymore?

Yes. They are making regulations to prevent banks from doing it, but it is not in effect yet. Ask the bank you use if you can "opt out" of overdrafts. I work at Bank of America, and they can do this if you ask, and soon their policy will be that everyone will no longer be able to overdraft.

They aren't. BUT, they have lots of ways to get your consent. Some are very sneaky. Those inserts they put in your monthly statements change your terms all the time and you "consent" to them by using your account. Few people read those each month, however. If you call the bank to complain, they will have the exact text ready to read to you. Also, debit cards are no different from checks. An overdraft is an overdraft and many banks (including the two largest) reconcile debits/credits at the end of the day. This means you could rack up four or five overdrafts if you are thinking that a check is going to clear. Bottom, line, keep your checkbook balanced and you will never have to worry about it.

That policy doesn't take effect until July 1 for new accounts and August 15 for existing accounts.

1. Don't spend money you don't have and this won't be a problem.

2. The new law isn't in effect until June.