Bank of America’s Overdraft Fees Down 90 Percent
Bank of America says the revenue it gets from overdrafts has dropped 90 percent from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks.
Overdraft Revenue Declines Nationwide in First Quarter
Overdraft fees at American financial institutions declined in the first quarter of the year, suggesting that overdraft prices are no longer inelastic, according to data recently published by the Illinois economic research firm Moebs Services.
