Overdraft Manipulation: Secret Shenanigans of Banks

$70 Balance -$5 -$10 -$20 -$61 -$40 $90 $100 $68 $2 -$2 $63 -$38 $35 FEE -$73 Transaction

$-1 Balance -$10 -$61 -$40 $39 $100 $-56 $-141 -$20 $-101 $-176 -$213 Transaction $35 FEE $-91 $-136 -$5 -$2 $-178 $-36

Chronologically Posted: Banks High-Low: 1 overdraft ($35 fee) 5 overdrafts (175 fee) $73 overdrawn $213 overdrawn

How much do banks make off this abuse? Over 50% of fee revenue comes from overdraft fees Profiting banks by over $22.5 billion per year

Sources Gonzales, Alegando (June, 2008). How a cup of coffee can set you back an extra $34. USA Today, Retrieved April 16, 2009, from http://blogs.usatoday.com/oped/2008/06/our-view-on-ban.html Helium, Are Banks Making Too Much Profit. Helium, Retrieved April 17, 2009, from http://www.helium.com/knowledge/10492-are-banks-making-too-much-profit Lillis, Mike (April 16, 2009). House Dems Eye Overdraft Reform. The Washington Independent, Retrieved April 16, 2009, from http://washingtonindependent.com/38975/house-dems-eye-overdraft-reform Pacelle, Mitchel (2004).Growing Profit Source for Banks: Fees From Riskiest Card Holders. Wall Street Journal. 11-16. Weston, Liz (April 2, 2009). Bank fees are more outrageous than ever. MSN Money, Retrieved April 16, 2009, from http://articles.moneycentral.msn.com/Banking/BetterBanking/BankFeesAreMoreOutrageousThanEver.aspx?page=1 Published Rules & Regulations of : Bank Of America, Citi-Group, M&T, Fifth Third Bank, Wachovia, Key Bank, WaMu, National City, and Cornerstone Credit Union