OverdraftCharges

A year after the Federal Reserve enacted new rules to rein in abusive bank overdraft practices, fees remain high and some institutions actually have slapped on additional penalties, according to a new survey by the Consumer Federation of America.

If you're fed up with overdraft fees, you're not alone. During a telephone press conference held earlier this afternoon, which I sat in on, Consumer Federation of America released the results of a national poll today showing that (surprise) just about everyone wants limits and additional...

Let's get the obvious out of the way first: We don't want you to overdraw your checking account. Spending more money than you actually have is not ideal, to say the least, and always winds up costing you more -- sometimes much more -- in the long run. But banks made more than $38 billion in...

Earlier today, Senators Chris Dodd, Jack Reed, Charles Schumer and Sherrod Brown unveiled a long awaited bill that will, if enacted, make it harder for banks to lob overdraft fees at their customers. If the Fairness and Accountability in Receiving (FAIR) Overdraft Coverage act passes, it will do...

Last week, The New York Times had an insightful op-ed entitled "The Debit Card Trap." I know what they're saying. There are days I feel like my bank is a hunter, and I'm the witless animal who has just stepped into the snare trap.The latest possible trend in banking, and I use the word "possible,"...

Anyone who has been dinged by their bank for an overdraft charge, as the two main characters were in the recent "Flight of the Conchords" show on HBO, knows that sinking feeling you get when you see it on your bank statement.There's now a chance to exact a little revenge by getting up to $78 back...