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Under the new rule, banks need your permission before putting through a debit card transaction when there isn't enough money in your account.
The way it works now is if you don't have enough money to cover a purchase, the bank fronts the money, but then hits you with a penalty of up to $35.
Consumer groups complain that people are getting nailed with those huge fees when buying a cup of coffee or some other inexpensive item when they would rather forego the purchase.
So beginning in July you decide: do you want your bank to front you the money or deny the debit transaction.
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