November 16, 2009
Jumping ahead of proposed federal legislation, TCF Bank is attempting to curb its own overdraft fees, starting early next year.
Under the current system, customers can get hammered with multiple overdraft fees in the same day once their balance drops below zero. If a customer is unaware their balance is in the red, they could rack [...]
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October 7, 2009
An estimated 45% of the country’s banks make more from overdraft fees than they do from credit card fees(!). They will generate $27 billion in covering overdrafts on checking accounts this year. Proposed legislation, however, may at least put in dent in that healthy source of bank revenue.
A 2008 FDIC study estimates that 41% of [...]
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