Overdraft protection: Are you in or out?

That magical date has finally arrived. As of August 15, banks now have to ask you whether you want to opt in or opt out of overdraft protection.

If you haven't made a decision yet, no need to panic, the bank, or rather, the Federal Reserve, has made the choice for you: You'll no longer have overdraft protection at your bank when you make purchases with your debit card. So if you end up going to get a burger at a fast food restaurant and you don't have enough money in your account to pay for it, your card will be declined. In the past, you'd get the burger -- and a $30-something fee.