Who Treats the Cash-Strapped Worse Than Payday Lenders? Your Bank
Filed under: JP Morgan Chase, Bank of America, Banking
Payday lenders have well-deserved reputations for charging insanely high rates for the short-term loans. But you’ll never guess who is gouging customers even worse: your bank.
Don’t be fooled by the slick marketing materials, established names, and upstanding reputations: When a customer tries to tap more cash than they have available in their accounts, these banks charge overdraft fees on the money they’re floating you, charging a pretty penny until you settle up.
According to a recent…
Who Treats the Cash-Strapped Worse Than Payday Lenders? Your Bank originally appeared on DailyFinance.com on 2012-06-11T16:15:00Z.
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