Overdrafts--any way to find out how much the banks are making on these fees?

[The Backlash Cometh]

I feel for the young kids today who are living pay check to pay check. They get hit so hard with these overdrafts. When it happened to me for some stupid reason, (can't remember what the mix up was, but it does happen no matter how conscientious you are) it only cost me $25.00 a check. That was thirty years ago. Today it's outrageous. Why are banks allowed to get away with this? Especially now a days when people are barely making ends meet?

[sonomak]

1. $40 billion

http://www.nytimes.com/2010/02/23/your-money/credit-and-debit-cards/23fee.html

[The Backlash Cometh]

2. This is a crime.

[Radical Activist]

3. The new financial regulation law limis what they can charge.

This is one of the things included in reform. Banks can't charge as much as they used to. It's inexcusable that banks like US Bank target college students on campus with free checking account promotions and then rape them with ridiculous high fees. It's a trap.

Despite the denunciations that it's a worthless corporate sell-out that won't help anyone, this is one of the ways that financial reform will make a difference in the lives of millions. They finally acted against the overdraft fee scam.

[Posteritatis]

4. Can they still game the order in which they process things for multiple fees?

You know, delaying some small withdrawals so that a large one drains the account first to get $200 worth of overdraft fines instead of $40, or holding a deposit until just after bills are paid.

[Radical Activist]

5. I don't know.

It regulated many practices.
That kind of garbage is why I moved to a credit union. I haven't had any problems since.