Expert Analyses of the following article:
Groups Attack Bank Fees on ATM, Debit Overdrafts
Source: www.boston.com
October 3, 2007Hard Lobbying to Moderate Legislation on Overdrafts
Author: Raymond Natter, Partner, Barnett Sivon & Natter, P.C.
Recently introduced legislation on overdraft protection would impose significant burdens on financial institutions, and would impair the use of ATM networks and require changes in current business models. The banking lobby is making a strong case that the bill needs to be modified.
July 13, 2007
ATM & Debit Overdraft Fees Raked In $17.5 Billion for Banks and Credit Unions
Author: Kamala Worthington, Former VP, Marketing Product Manager, Bank of America Corporation
ATM & Debit Overdraft Fees Raked In $17.5 Billion for Banks and Credit Unions
Author: Kamala Worthington, Former VP, Marketing Product Manager, Bank of America Corporation
Implications: Banks and credit unions are once again answering questions before the House Committee on Financial Services and this time the questions raised are over banks and credit unions policies on overdraft fees for ATM & debit transactions, which netted a stream of fee revenue to the tune of $17.5 billion in 2006 for banks and credit unions. Debit card transactions at the POS (Point-of-Sale)...
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