Daily Show Awesomeness- Overdrafts

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We support reforms to the financial marketplace that protect consumers from unscrupulous banks and lenders.

By Consumers Union on Tuesday, August 25th, 2009

Wait for it… it is about 2 minutes in…

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Most banks automatically cover your transactions when you don’t have enough money in the bank, and charge you astronomical fees for this service. These overdraft programs are really just high-cost, short-term loans with quadruple digit APR rates. Consumers Union thinks that consumers should be able to sign up for these programs before being charged any fees, because there are often much cheaper options for covering overdrafts.

Sick of Overdrafts? Yeah so are we. Go here to learn more and take action

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