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Banks can hide how they calculate overdraft fees, says court

By tvgnus   2012 Dec 26, 3:49am   194 views   0 comments   watch (1)   quote      

http://www.centralvalleybusinesstimes.com/stories/001/?ID=22559

Are overdraft fees subject to state regulation? •  The revenue from overdraft fees is massive Federal law allows national banks to hide how they manipulate overdrafts to maximize the penalties they assess their customers, the 9th U.S. Circuit Court of Appeals says. Thus a state law prohibiting the practices has no sway.

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