Overdraft Rip-Off

March 2006
Multinational Monitor;Mar/Apr2006, Vol. 27 Issue 2, p4
The article warns on the overdraft loan schemes of some financial institutions in the U.S. A survey conducted by the Center for Responsible Lending reveals that 16 percent of bank customers account for roughly three-quarters of all overdraft loans. Eric Halperin of the Center for Responsible Lending said that such schemes are trapping vulnerable customers in debt.


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