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22 Sep 2009 21:18

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Biz: J. P. Morgan Chase and Bank of America stop leaning on overdrafts

  • good Bank of America and Chase will limit the number of times you can get nicked by overdraft fees in a day.
  • better If you go under your limit by less than $5 (Chase) or $10 (Bank of America), you won’t get overdraft fees.
  • best Best of all for Chase customers, they will no longer charge overdrafts in order of cost, highest value first. source
Posted by Ernie Smith • 0 Comments • Permalink

09 Jul 2009 20:57

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Biz: Where do banks really make their ill-gotten money? Overdraft fees

  • $20.5 billion the amount banks are expected to make from credit card fees such as overlimit fees in 2009, which will (fortunately) soon be regulated by the federal government
  • $38.5 billion the amount banks are expected to make from overdraft fees – fees that banks drive up by charging large items first, then small items – this year. This is bull$*&@. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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