fromTruthout
3 weeks agoDemocratic Senators Demand Banks Disclose Policies on Predatory Overdraft Fees
"Overdraft and non-sufficient fund (NSF) fees are 'one of the most common exploitative mechanisms big banks use to target the poor,' Senators Elizabeth Warren (D-Massachusetts), Richard Blumenthal (D-Connecticut), and Bernie Sanders (I-Vermont) wrote to 25 banks on August 28, including JPMorgan Chase, Wells Fargo, PNC Bank, TD Bank, and Bank of America. 'When consumers' finances are already stretched thin, exorbitant overdraft fees can cause other payments to bounce - leading to even more fees in a vicious circle that can 'turn setbacks into crises,'"
US politics