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The CFPB's Richard Cordray says that the agency is launching an inquiry into the policies of...

The CFPB's Richard Cordray says that the agency is launching an inquiry into the policies of banks on checking account overdrafts. At issue: Do banks withdraw larger checks before smaller checks in order to run up fees? At risk: An estimated $38B in annual overdraft fees.
Comments (1)
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    If customers have the sense to keep enough in their accounts to cover ALL the checks they write, the order the banks deduct the checks from the account is irrelevant.

     

    Remedial math - pretty simple!
    22 Feb 2012, 09:08 AM Reply Like
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