Bankruptcy news of the day:

An article from CNNMoney.

Excerpt: “On average, overdrawing an account costs customers $225 in fees per year, according to a new study from the Consumer Financial Protection Bureau.

Overdraft fees are sparked when a customer overdraws their checking account by making a purchase with their debit card and the bank covers the transaction instead of denying it, while non-sufficient fund (NSF) fees kick in when a check or automatic payment overdraws the account.

Depending on the bank, the average amount spent on these fees can be as low as $147 per year and can go all the way up to $298. And banks aren’t complaining, with…”

Keep reading at the link below!

Credit to original article: