Friday, June 8, 2012

Are Overdraft Fees Usury?

Overdraft Fees Rising Despite Regulations - Real-Time Advice - SmartMoney: "For consumers, overdraft costs can be astronomical. Fees can be charged anywhere from three to 10 times (or more) a day, according to the CFA. Customers who pay a $100 overdraft after two weeks would incur the equivalent of a 900% to 3,000% annual percentage rate, according to the CFA. “This is the most expensive credit that banks extend to consumers,” says Fox. "

'via Blog this'

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