The Globe and Mail reports in its Thursday edition that Ottawa has put in place new rules limiting the fees banks can levy on customers who do not have enough in their accounts to cover a cheque or other preauthorized charges. A Canadian Press dispatch to The Globe says the updates, included in an order-in-council last week, cap non-sufficient funds (NSF) fees at $10 for personal deposit accounts, prohibit charging more than one NSF fee in a period of two business days and prohibit charging an NSF fee when an account shortfall is under $10. The Finance Department said Wednesday that the changes will take effect starting March 12, 2026. The government announced in the budget last year that it would reduce the fees, which currently run close to $50 at major banks, saying they disproportionately affect low-income Canadians and people with poor credit history. Customers have sometimes seen high charges for being only pennies short. In a class-action lawsuit settlement against TD Bank last year, the lead plaintiff had been charged $96 for being 45 cents short on a PayPal bill after the merchant tried to put the purchase through twice. The feds said last year that the changes would cost the banks $4.8-billion over 10 years.