ND Supreme Court upholds $12K bank overdraft fees

26 Sep 2010 21:38 #1 by CinnamonGirl
http://www.businessweek.com/ap/financia ... DMCS80.htm

Court records say she challenged the fees only when the bank sued her in November 2008 to collect $78,457 on her overdrawn account, a figure that included the overdraft fees.

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27 Sep 2010 06:18 #2 by charm
Isn't it illegal to write bad checks?
http://www.ehow.com/about_5313337_federal-bad-check-laws.html
Interesting she argued these fees amounted a figure much larger than interest on a loan, but why didn't she get a loan instead of bouncing checks?

Cavett argued the fees were "unconscionable" and said they would be considered much too high if they were figured as interest payments on borrowed money.


The bank sued her in November 2008 to collect $78,457, the court upheld $12,000. Maybe she should consider herself lucky?

And lastly, the overdraft fees occured over a four and half year period. She didn't notice at the time?

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