Now that Bank of America (BAC) will assess overdraft fees 10 times a day instead of five, Felix...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Now that Bank of America (BAC) will assess overdraft fees 10 times a day instead of five, Felix Salmon takes on the scandal of the charges, which are raking in $30B for the banks: The median amount triggering overdrafts is $36, meaning implicit "loan" interest in the thousands of percent, resulting in an unconscionable "tax on poverty."