Jeffrey McManus

Now that the most predatory practices of credit card issuers and banks are being zapped by regulation, banks are working overtime to figure out new, even scummier ways to drain the money from your account:

Given the billions at stake, consultants are urging banks and credit unions to hire them to help. “Your fee income will take a substantial ‘hit’ if you don’t start getting consumers to ‘opt-in’ for POS/ATM overdrafts NOW!” Mike Sobba, president of Strunk & Associates, a financial institution advisory service, warned banks in a pitch on the company’s Web site.

Link: Banks Pressure Customers on Overdraft Fees

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