Overdraft fees make debit cardholders see red
More Long Island residents say they?re getting hit with massive overdraft fees on their debit cards without any warning.
According to the Federal Deposit Insurance Corporation, banks make billions of dollars on fees every year. The FDIC also says most banks won?t stop cardholders from overdrawing.
Claudia Amengual, of Franklin Square, says she once got $90 in fees when she made a $90 purchase and did not have enough money to cover it. She?s not the only one. Others report getting charged $30 each time they overdraw.
The Center for Responsible Lending says banks have been more aggressive with fees over the past couple of years. They say the average fee is about $34.