Overdraft fees hand US banks $38bn | FT Alphaville

Overdraft fees hand US banks $38bn

US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers, according to new research. The fees are nearly double those reported in 2000. The finding, by research company Moebs Services, is likely to increase public hostility and pressure on banks to increase credit availability.