Banks Cashing in on Customer Overdrafts

If you are one of millions of people hit with overdraft charges on your debit card, you already know banks are making more and more money that way.

The Center for Responsible Lending says more banks are charging customers record high overdraft fees.

Banks are using those fees as a substitute for the bounced check fees of years past.

The group says banks charge an average of almost $30 for each overdraft, even if your purchase was just two or three dollars.

Banks brought in more than $50 billion last year thanks to those charges.

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