Overdraft Quotes
We are overdrawing on the world's natural capital. This goes unnoticed unless we get some sort of bank statement to tell us that we are overdrawn. Clearly this overdraft is unsustainable.
- Jonathan Loh
The impact of the change in bankruptcy laws and changes in our practices for overdraft charge-offs and over-limit credit card fees reduced pretax results by about $320 million. In addition, we had a weak trading quarter that was well under our performance in recent quarters. The bankruptcy issue will not recur and should actually benefit us going forward as we expect a reduced level of bankruptcy filings under the new law.
- Ken Lewis
Overdraft privilege is a discreet service that enables credit union members to avoid the embarrassment of 'making good' on an item with a valued retailer or creditor. It saves the consumer and the merchant time and productivity in straightening out a non-sufficient funds (NSF) situation.
- Sylvia Fath
[Unlike other types of bounced-check protection, any money lent by the bank is taken out of the consumer's next deposit. The fees and the short time given to pay back the overdraft often translate to] triple-digit interest rates... Banks have essentially gone into the business of payday lending.
- Ann Fox
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