Just days after Bank of America and JPMorgan Chase announced more consumer-friendly policies on overdraft fees (and getting some rare props from this blog as a result) more banks have decided to be more fair to their clients where these charges are concerned.

Wells Fargo is going to discontinue assessing overdraft fees if client balances are less than $5 in the red, and the bank will also limit overdraft fees to four per business day.  Wells Fargo is the parent bank of Wachovia.  BB&T Corp is getting in on the action as well, with a policy similar to that of Wells Fargo taking effect on January 1, 2010.

It’s commonly perceived that these moves are intended to fend off any inclinations that Congress may have to regulate these fees.  No doubt any action taken to legally curb these fees would be more restrictive that what banks are doing to police themselves.  And it would be tough for any lawmaker to vote against what would be a very popular bill.