At a time like this, banks need revenue. And a time-tested way of generating revenue is raising fees. The Financial Times reports that U.S. banks will collect an estimated $38.5 billion in fees for customer overdrafts this year, "with the bulk of the revenue coming from the most financially stretched consumers."

The fees are nearly double those reported in 2000. The highest overdraft fees were charged by the biggest banks, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. 

You could argue this is smart, as the risks of overdrafts rise, but the regulatory landscape has changed. The Federal Reserve is developing some overdraft fee rules, and the issue may be addressed by the proposed Consumer Protection Agency, if it is ever approved. Its a tricky issue, but politically, such fee hikes are hard to defend right now. 

For more:
- here's the article

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