Debit cards with overdraft protection bring in huge fees

Debit cards that allow bank customers to spend more money than they have in their accounts have been generating huge fees for banks, and some people are upset about the extremely high cost of overdraft fees when customers are not allowed to opt out of the transaction before the fee gets applied, the New York Times reports.

These fees have become a major portion of the revenue at many banks in recent years, outpacing credit card penalty fees by about 25 percent nationwide.

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Paul Katula
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