US banks’ overdraft charges under fire

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
US banks’ overdraft charges under fire

When your down and trying to get up, don't call on the banks...........38 billion in overdraft charges, while the economy implodes.......

http://www.ft.com/cms/s/0/d9021d8c-8524-11de-9a64-00144feabdc0.html

 

CB's picture
CB
Status: Gold Member (Offline)
Joined: Mar 18 2008
Posts: 365
Re: US banks’ overdraft charges under fire

Here is the money quote:

Quote:

Banks are lobbying against strict restrictions because overdraft fees represent about three-quarters of total service charge income. Indeed, according to research from Moebs Services, without overdraft fees 45 per cent of banks and credit unions would not have made money in 2008.

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
Re: US banks’ overdraft charges under fire

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