Overdue Overdraft Overhaul | Truthout
"If bankers are as smart as they are well paid, why don’t their overdraft fees work? Why don’t the fees discourage overdrafts? Why did these fees swell 17% in the last six years? Some observers figure consumers pay $30 billion in these fees. Could it be (cynicism alert!) that banks view these “penalties” as a lucrative source of revenue? Consider that the entire banking industry earned $119 billion in 2011 from all sources, sharpening the importance of overdraft fees."
