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Wednesday, May 20, 2015

Bank customers fork over $2.5 billion in overdraft fees

http://www.cnbc.com/id/102692160


A customer at a Wells Fargo branch in New York.
If you've been stung by overdraft fees over the past couple of months, lots of other people feel your pain.
So many, in fact, that three of the largest U.S. banks alone collected in the first quarter of 2015 more than $1.1 billion in penalties and fees related to overdrafts, according to SNL Financial, which gathered records after banks started breaking out the charges this year.
JPMorgan Chase, Bank of America and Wells Fargo were the largest players of about 600 banks in total that received some $2.51 billion. They are three of the four biggest banks in the U.S. Representatives for the three did not immediately respond to a request for comment.

We've learned nothing in this Country. The dumbing down has worked as planned.

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