Banks offer overdraft protection programs ostensibly to protect consumers. In theory, by opting into these protections, account holders shield themselves from having payments not go through.The overdraft protections allow for consumers to over-draw their accounts to varying degrees depending on the bank and the program. When this happens, the bank covers the charge, but tacks on a fee (generally $35 per overdraft).
Comment on Study Shows Overdraft Programs Don't Meet Most Consumer's Needs
newsfeedback@fool.com (Daniel B. Kline), The Motley Fool
Thu, 12/21/2017 - 5:31am
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