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People get hit with overdraft fees when they overspend the balance in their checking account and the bank fronts the money for a few days. The hefty fees
People get hit with overdraft fees when they overspend the balance in their checking account and the bank fronts the money for a few days. The hefty fees
All U.S. banks together make about $15 billion a year on overdraft fees, according to the federal Consumer Financial Protection Bureau.
One of the nation's biggest banks says it will stop charging overdraft fees to all of its customers. These hefty fees hit people with low incomes the hardest. More banks could follow suit.
Capital One says it will stop charging overdraft fees and Bank of America is reducing them. These hefty fees hit people with low incomes the hardest.