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JPMorgan Chase & Co. also will be overhauling its overdraft fees, a spokeswoman said late Tuesday. Starting in the first quarter of 2010, the bank will make overdraft protection opt-in for all customers, post transactions to accounts as they occur, and eliminate fees when accounts are overdrawn by $5 or less. It will also reduce the maximum number of fees per day to three from six.

The changes will apply to all customer accounts, the spokeswoman said.  The banks’ turnaround comes as credit card reforms passed earlier this year will soon limit banks’ ability to raise fees and interest rates and require greater disclosure about costs.