June 9, 2012
Overdraft fees that banks launched in recent years with little notice to consumers have not gone away despite efforts by consumer groups and regulators to end a practice that generated billions in fees from unwitting customers.
Instead, two new studies show, banks are charging more, hiding the fees deeper than ever and making it difficult to have charges reversed.
Fees in the latest year totaled $29 billion, according to Moebs Services. And the charges are rising again without customers’ awareness, said the advocates.