All Posts Tagged With: "Overdraft Fees"

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Democratic Lawmakers Call for Regulations To Limit Bank Overdraft Charges

In a move that would affect commercial banks like Bank of America (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), and JP Morgan Chase (NYSE: JPM), Democratic lawmakers on Friday publicly called for regulatory changes to banks ability to charge overdraft fees. Rep. Barney Frank, chairman of the House Financial Services Committee, and Chris Dodd, Chairman of the Senate Banking Committee called for legislation that would allow bank customers to opt out of overdraft protection.

October 30th, 2009 | John | Comments | Continued
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Editorial: Overdraft Fees – Will We All Have to Pay for the Irresponsible Few?

The practice of a minority of people who continually trigger overdraft fees could result in bank customers across America having to pay for currently free services like checking accounts.
While some in the media have been making a big deal about people being socked with overdraft fees, as usual, it’s not as simple as that, as [...]

September 24th, 2009 | Gary | Comments | Continued
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Pressure to Regulate Bank Debit Cards Increasing

It’s somewhat puzzling to me the big deal being made about the overdraft fees being charged for the use of debit cards. The reason is that the vast majority of consumers don’t overdraft their bank accounts, and those that do, do it at a pace of five times a year, showing the problem lies with [...]

September 9th, 2009 | Gary | Comments | Continued
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U.S. Banks Quietly Increasing Overdraft Fees for $38 Billion in Profits!

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A research paper from Moebs Services asserts that a large number of banks in the United States have quietly been adding overdraft fees throughout the last year, and could end up making about $38.5 billion extra from the practice.
Obviously those who will suffer the most from this are consumers you can least afford to, and [...]

August 10th, 2009 | Gary | Comments | Continued