Banks Made Over $30 Billion from Overdraft Fees in 2016

Overdraft fees are a real money-maker for online sbi banks. According to the Wall Street Journal, overdraft revenue is up 2.5% to $33 billion since 2015. Overall, in 2016, the top 10 biggest banks made $7.5 billion. These fees are costly for consumers. The Consumer Financial Protection Bureau (CFPB) has compared overdraft to a short-term […]

Consumer Watchdog Goes After TCF Bank for Dicey Overdraft Practices

The Consumer Financial Protection Bureau (CFPB) is fighting for you. Last week, the consumer watchdog sued TCF Bank for tricking consumers into pricey overdraft fees. These fees are outrageous – TCF charged about $35 for an overdraft, even if the charge was for a $5 coffee! This latest enforcement effort shows just how crucial the […]