Banks relying more on fees for income

Banks relying more on fees for income
Tags: Bank / Credit Union, Debit / Credit, North America, Trends / Statistics
March 12, 2008

The (South Carolina) State: Add this to the list of things getting more expensive: penalties banks charge you for breaking their rules. Charges like overdraft fees, stop-payment fees and ATM surcharges are on the rise, according to a report released last week by the U.S. Government Accountability Office. And that's not all: The report also says financial institutions are increasingly relying on such charges to supplement income.