Monday, August 10, 2009

US Banks make $38.5 bn from overdraft fees in 09. Fees nearly doubled since 2000. Median fee is $26. These fees accounted for 75% of service fees

The most cash-strapped customers are the hardest hit by such fees, with 90 % of overdraft revenues coming from 10 % of the 130m checking accounts in the US..

Fed is working on rules for fees.

FT.com / Companies / Banks - Banks make $38bn from overdraft fees

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