NBC Information Reports that Banks, Credit Unions and Thrift Institutions Earned Revenues of $32 Billion on Overdraft charges in 2012. These charges Are Predicted to Top Record-Setting profits in excess of 37 Billion in 2016 by Moebs solutions, Economic Research Firm.
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HOUSTON , Sept. 6, 2013 /PRNewswire-iReach/ — Startling, but real. Banking institutions find a growing income supply in the type of overdraft security charges as cash-strapped customers attempt to dig their way to avoid it associated with final 5 years of financial chaos. In 2012, income from overdraft charges expanded by $400 million bucks or 1.3 per cent from 2011 and reputable research that is economic, such as Moebs Services predict the quantity will increase to all-time highs because of the end of 2016.
While that trend could be bode well for the banking institutions’ base lines, it is not so excellent when it comes to typical bank client that is growing weary associated with the over-priced, so named overdraft protection services supplied by the banking institutions. (more…)