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DearCustomer- Fortunately we live in a country where you can do exactly what you say you are going to do. Obviously I can't predict the chances of getting the US Congress to pass a specific piece of legislation but this is how to get started. I agree that banks are a rip off when it comes to fees but I can't agree that this is a loan.
The terms of the checking account do not provide that you can overdraw the account and pay back the bank at a later time, which would be a loan. It is simply against the terms of the contract with the bank to overdraw the account and since the account is totally in your control you are the only one who can violate the terms of the contract.
Your approach is about all you can do to get this changed but keep in mid that banks are private companies and contracts are enforceable.
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