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Tag: Overdraft Fees


In Spite of 2010 Law, Banks Still Make Billions on Overdraft Fees

A 2010 law was supposed to relieve Americans of the onerous penalties, but thanks to aggressive marketing campaigns that persuade consumers to “opt in” for overdraft coverage, banks made nearly $14 billion on the “service” last year.

Posted on May 26, 2016 READ MORE


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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.

Posted on Jun 10, 2012 READ MORE


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