Dec
20
Small Banks Also Charge Substantial Overdraft Fees, Report Says
BySmall banks are not much better than big banks when it comes to the fees they charge customers who spend more than they have in their accounts.
That is the finding of a new report published on Tuesday by the Pew Charitable Trusts, which used “secret shoppers” to request information from 45 smaller banks from across the country, to examine their overdraft practices and penalty fees.
The findings are not surprising, said Lauren Saunders, associate director of the National Consumer Law Center. “Some smaller banks are far more addicted to overdraft fees than bigger banks,” she said…
Small Banks Also Charge Substantial Overdraft Fees, Report Says
