Monday, June 28, 2010

Is this financial innovation, exploitation or what?

A bank comes up with a computer algorithm that figures out how to sequence the checks somebody's written for more money than they have in their account in order to charge the maximum possible number of $37.50 in overdraft fees. I understand that banks need to charge overdraft fees, what I can't accept is banks manipulating charges and calling that financial innovation.

http://thinkaloo.com

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