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August 4, 2014

CFPB: Debit overdrafts cost more than items purchased

  • Large banks generally charge a $34 penalty when people overdraw debit-card accounts; most of the purchases involved were for less than $24.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — The fees that banks charge debit-card users who overdraw their accounts usually cost more than the items being bought.

    That's the result of a study that the Consumer Financial Protection Bureau released last week.


     
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