by Laura Conaway

Good morning. Let's start right with your wallet, OK?

Bank of America and JPMorgan Chase have backed off on some of their stiffest overdraft penalties. The banks are wary of a movement in Congress to end the nasty surprise of learning you spent $30 on a cup of coffee — because you paid with a debit card and your account was overdrawn. The banks' new plans limit the number of overdraft charges in a single day and give consumers a chance to choose overdraft protection.

Treasury Secretary Tim Geithner's due on Capitol Hill today, where he's expected to push for a Consumer Financial Protection Agency.

The Federal Reserve Open Market Committee emerges from a two-day meeting today. Investors want to know the same thing they always want to know, which is whether the Fed will raise interest rates. Answer: Probably not. Watch for an announcement about the economic outlook this afternoon around 2:15 Eastern.

From the Wall Street Journal: "Delayed Foreclosures Stalk Market." Or as Calculated Risk puts it, "The foreclosures are coming. How many and when is the question." The early bet is upwards of three million in the next few years.

 

President Obama is hopeful the G20 meeting in Pittsburgh this week will lead to global agreement on financial reform.

The Economist asks whether private capital could help poor countries with green projects. Answer: Maybe.

More trade tension with China, this time over its policy of forcing foreign media outfits to distribute books, music and movies through state-owned entities. Last month the World Trade Organization said China was violating international rules. Now the Chinese have appealed the ruling.

And finally, filmmaker Michael Moore is storming the gates with his new documentary, Capitalism: A Love Story. NPR's Kenneth Turan posts a review and clips.