Haven’t we all known for years that bank overdraft fees are unfair to consumers?
Overdraft fees are boosting banks’ profits at the expense of consumers, especially young and low-income people, finds a new Federal Deposit Insurance Corp. study.
The 18-month survey found that most banks automatically enroll consumers in overdraft programs — some don’t allow them to opt out — and then cover overdrawn transactions for a per-item fee of up to $38.
So what will come of this survey? Yeah, I figure silence and inaction.
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Slobokan.
All other material and brand or product names are copyright and/or registered trademarks of their respective holders.
E-Mail sent to any kooksinsuits.com address, or the feedback address listed at the top of the page, may be considered for publication unless the recipient is expressly notified otherwise.
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