Lee Schafer: Bank overdraft rules pick consumers' pockets

  • Article by: LEE SCHAFER , Star Tribune
  • Updated: June 15, 2013 - 2:29 PM

New rules that were added three years ago to make the fees for overdrawn checking accounts more transparent and less costly seem to be something less than a triumphant policy success.

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jhb8426Jun. 16, 1312:08 AM

Want to avoid overdraft fees? Easy, balance your check book and don't write checks for money you don't have.

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pommerJun. 20, 1310:34 AM

Lee is charitable to suggest that the overdrafts occur because finances are that tight. I know. I spent most of the previous 3 years under and unemployed. Money was VERY tight. But I'm tired of people NOT reading and not understanding that opting in for overdraft protection means a fee. If they don't understand, TAKE THE TIME TO CALL the bank. That's what I do when I don't understand something. It's not always the case, but there needs to be more personal responsibility looking into these matters.

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