Anyone wondering why JPMorgan Chase and Wells Fargo are holding stimulus checks until March 17, look no further than this. Each bank makes around $5,000,000 per day on overdraft fees.
Since this is getting some attention, I’ll just say:
1. Banks, take a hard look at your overdraft fees and policies
2. Please keep wearing a mask until this is over 😷
3. Please be kind to each other and especially grocery store workers
— john (@johnlaf13) March 14, 2021
Banks will collect more than $30 billion in overdraft fees this year. Here’s how to avoid them
www.cnbc.com/2020/12/01/banks-will-get-30b-in-overdraft-fees-this-year-heres-how-to-avoid-them-.html
Banks Took $11 Billion in Overdraft Fees in 2019, Group Says
www.nytimes.com/2020/06/03/business/banks-overdraft-fees.html
h/t McDonald Trunalimunumaprzure