Posted on Thursday, 4th February 2010 by debtpreventions

A 2009 USA Today survey found that each of the 10 largest banks allow consumers to overdraw checking accounts.  By doing so, banks reaped a record $38.5 billion from overdraft fees that year, nearly twice the $20.5 billion collected from credit card penalties, such as late and over-limit fees.
“Overdraft fees are the mother lode of [...]

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