FT.com / Companies / Banks - Banks make $38bn from overdraft fees.
US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000.
OK, some is inflation.
And of course the recession will have created more opprtunities to charge fees to those transgressing their bank conditions.
But I have no doubt, this is banks rebuilding their profit from those least able to pay.
Sick, isn't it?
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
