DNN Daily News Network

Under-reported news! We scour the news so you don't have to!

READ: Banks make $38bn from overdraft fees

leave a comment »

moneySource: Financial Times: (Editors Note: This really doesn’t fit into the “Underreported News” Section but I just thought It was interesting and would like to share it with everyone.)

By Saskia Scholtes and Francesco Guerrera in New York

Published: August 9 2009 22:52 | Last updated: August 9 2009 22:52

function floatContent(){var paraNum = “3” paraNum = paraNum – 1;var tb = document.getElementById(‘floating-con’);var nl = document.getElementById(‘floating-target’);if(tb.getElementsByTagName(“div”).length> 0){if (nl.getElementsByTagName(“p”).length>= paraNum){nl.insertBefore(tb,nl.getElementsByTagName(“p”)[paraNum]);}else {if (nl.getElementsByTagName(“p”).length == 3){nl.insertBefore(tb,nl.getElementsByTagName(“p”)[2]);}else {nl.insertBefore(tb,nl.getElementsByTagName(“p”)[0]);}}}}

US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000. Read More

Written by dnnnewshound

August 10, 2009 at 2:19 am

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: