"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Debit Cards Fuel Overdraft Outrages
Submitted by Ali Hassan Massoud on Mon, 2007-02-26 17:00
"Forty dollars for a Big Mac? That might sound over the top, but it barely tips the outrage meter when you compare it to the 20,000-percent-interest loan U.S. consumers regularly take out to pay for such $40 burgers. How could this be? Well, bounced checks just aren't what they used to be. A new study says that most of the time consumers overdraw their accounts now, bounced checks aren't the culprit. Instead, debit card purchases are chief cause of overdrafts." Yikes! Buyer beware!
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