Truthdig - Tag - Overdraft Fees

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Tag: Overdraft Fees

garryknight (CC BY-SA 2.0)

Overdrafts: The Banking Penalty That Just Won’t Die

Despite the 2010 update to the Electronic Fund Transfer Act, which was intended to protect customers from ghastly overdraft fees, customers who for whatever reason fail to get the necessary protection—and complicated contract language on the part of banks is certainly one of them—are still getting plowed with high penalties when they overdraw.