RipOff City....Bank Overdraft Fees Make them $38 Billion

Here we go again....banks ripping off the consumer while claiming they are providing a service to their bail out partners.

Remember, these are the same assholes who make

70% of the overdrafts happen at a POS terminal or ATM, not by writing a check.

The last statistic is the clear one: There is no reason whatsoever for anyone to take such a hit. The bank knows before they approve the transaction that the money isn't there in the account.

This is not the same thing as a check, which the bank has no way to warn you about before you write it, as there is no "connection" between your checkbook and their computer.

IF we had honest regulators it would be strictly unlawful for a bank to intentionally approve a debit transaction which it knew you did not have the funds to settle unless you had an established overdraft line of credit (at a reasonable APR.)

Take solace in the fact that 1 in 6 banks in Georgia are in a big bag of deep dog crap.