Overdraft in Congress’s sights
September 21, 2009 | Washington Post, alternatives, federal legislation, industry | Comments (0)From today’s Washington Post front page:
A backlash is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers, the latest sign that the financial crisis is shifting the balance of power from banks toward borrowers.
Banks struggling to survive have become increasingly reliant on the fees, which could total $38.5 billion this year.
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