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Center for Responsible Lending Reports on the $30 Donut
By:
Sbyrnes
On: 2007-07-11 Big banks hide behind a smokescreen, take consumers for $17.5 billion per year in abusive overdraft loan fees: CRL released a report this morning finding that consumers are now paying $17.5 billion per year in high-cost, unsolicited loans to cover overdrafts that banks and credit unions promote. In a system enormously out of balance, these fees amount to more than the loans themselves, which have reached $15.8 billion per year. |
