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Democratic Senators Demand Banks Disclose Policies on Predatory Overdraft Fees

3 11
thursday

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A group of Democratic senators is demanding information from more than two dozen banks on their overdraft policies and profits from overdraft fees.

“Overdraft and non-sufficient fund (NSF) fees are ‘one of the most common exploitative mechanisms big banks use to target the poor,’” Senators Elizabeth Warren (D-Massachusetts), Richard Blumenthal (D-Connecticut), and Bernie Sanders (I-Vermont) wrote to 25 banks on August 28, including JPMorgan Chase, Wells Fargo,

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