Jared

Predatory Banking Practices Undermining the U.S. Consumer

Also, it's ridiculous to state that the economy loses out on $30 billion due to this. The bank counts it as revenues, so it still ends up in the nation's GDP. We are ignoring basic macroeconomics principles here.

Predatory Banking Practices Undermining the U.S. Consumer

Why was this blog allowed to be linked to BAC's Yahoo quote page? I mean seriously, this is nothing short of crazy.

Regardless of what order the withdrawals/drafts are processed, the implication is that their are not sufficient funds in the checking account to cover all outstanding transactions. Whether you process larger or smaller amounts first has no effect on the end result: the person has overdrawn their account.

The bottom line (no pun intended) is that people need to manage their personal finances more wisely. The overdraft fees should serve as a motivational tool.