overdrafts http://mrc.org/taxonomy/term/23082/all en NBC, CBS Criticize Banks for Overdraft Fees That Customers Request http://mrc.org/node/43782 <div class="field field-type-text field-field-subtitle"> <div class="field-items"> <div class="field-item odd"> Financial institutions are ‘profiting from your mistakes.’ </div> </div> </div> <div class="field field-type-nodereference field-field-source"> <div class="field-items"> <div class="field-item odd"> <div class="field-label-inline-first"> By</div> <a href="/author/kristine-marsh">Kristine Marsh</a> </div> </div> </div> <p>Banks are bad because they make a profit on things requested by their customers, according to both NBC and CBS. The two networks highlighted a <a href="http://files.consumerfinance.gov/f/201306_cfpb_whitepaper_overdraft-practices.pdf">study released June 11</a> by the Consumer Financial Protection Bureau [CFPB] that said banks made $12.6 billion in overdraft fees and non-sufficient funds from bounced checks in 2011. Though only 20 percent of customers actually opt-in for overdraft protection, NBC called these fees “one of the most common financial mistakes Americans make.” </p><p><a href="http://mrc.org/node/43782" target="_blank">read more</a></p> Articles MRC Business Business banks fees lending overdrafts Wed, 12 Jun 2013 20:43:46 +0000 dan.gainor 43782 at http://mrc.org NBC, CBS Criticize Banks for Overdraft Fees That Customers Request http://mrc.org/node/43781 <div class="field field-type-text field-field-subtitle"> <div class="field-items"> <div class="field-item odd"> Financial institutions are ‘profiting from your mistakes.’ </div> </div> </div> <div class="field field-type-nodereference field-field-source"> <div class="field-items"> <div class="field-item odd"> <div class="field-label-inline-first"> By</div> <a href="/author/kristine-marsh">Kristine Marsh</a> </div> </div> </div> <p>Banks are bad because they make a profit on things requested by their customers, according to both NBC and CBS. The two networks highlighted a <a href="http://files.consumerfinance.gov/f/201306_cfpb_whitepaper_overdraft-practices.pdf">study released June 11</a> by the Consumer Financial Protection Bureau [CFPB] that said banks made $12.6 billion in overdraft fees and non-sufficient funds from bounced checks in 2011. Though only 20 percent of customers actually opt-in for overdraft protection, NBC called these fees “one of the most common financial mistakes Americans make.” </p><p><a href="http://mrc.org/node/43781" target="_blank">read more</a></p> Articles MRC Business Business banks consumers lending overdrafts Wed, 12 Jun 2013 20:41:30 +0000 dan.gainor 43781 at http://mrc.org