Legal Banking Scam

[rawrg]

Yeah, the bill they recently passed finally made it so that you HAD to sign up for it to get it, which is way better. I couldn't get my bank to disable it earlier this year. I went in and told them, "Look. I'm too lazy to keep track of all my transactions, I admit it. I would rather just be declined if I don't have the money, and I certainly don't want to be assessed a fee when I'm already broke." They wouldn't do it before July 1st when the new law took effect.

 

[slurper_la]

...How the government allows this type of scam that I consider theft is bizarre to me... Banks are pushing this too...

You have to keep in mind it's because the Obama Administration pushed for a new set of consumer protection laws that the banks can no longer automatically allow overdraft protection on accounts. Banks must now take the default position of there being NO overdraft unless you specifically authorize it. That's why they are pushing so hard for people to sign up. And while the fees are excessive, if you don't pay attention it's your own fault.