More Evidence That We’re Getting Hammered With Bank Fees
It's hard to tell which is piling up faster — the fees bank customers have to pay these days or the research showing just how pervasive these fees are.
Banks did a lot of marketing to try to convince people to sign up for overdraft protection; they’ve been pretty successful, to the chagrin of consumer advocacy groups who charge that banks get people to sign up by basically scaring them into thinking they need the protection or making the opt-in language so confusing that customers choose the opposite of what they think they’re getting. Both The Pew Charitable Trusts and the Center for Responsible Lending conducted studies that reached this conclusion.
In the meantime, those fees just keep climbing.
Read the full article at moneyland.time.com.