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BANKS MADE $32 BILLION IN OVERDRAFT FEES IN 2012!

BANKS MADE $32 BILLION IN OVERDRAFT FEES IN 2012!
Banks continue to inspire the goodwill by letting people spend more than they have, and then charging them for it. Overdraft fees may seem insidious and parasitic, but they also are very good business. In 2012, financial institutions collected a cool $32 billion in overdraft fees. While banks bear the brunt of the criticism, so do consumers, who despite complaining about the practice, still take advantage of being taken advantage of. Thank you, sir, may I have another? More than a quarter of people with checking accounts (38 million people) frequently overdraft their accounts, and more than half of those folks (20 million) hit up loan-sharking payday lenders when they run out of money.