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An increasing number of Americans are living paycheck to paycheck, BofA says
(www.businessinsider.com)
this post was submitted on 24 Oct 2024
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Study done based on BoA's internal data analysis of what their customers spent money towards. Did they include how much was on bank fees? Never looked back once I went to a credit union.
I closed my account with Chase during Occupy Wall Street and also never looked back. When I accidentally overdraft my credit union account, they just automatically pull it out of my savings account with no associated fee. Who'd've thunk having a computer automatically do something could be a free service
You have to think people who maintain a BoA account skew low-information
Mine warns you about the pending overdraft and if you get enough funds in that day they charge a penny. When I was with BoA I found that not only did they charge a large fee for each overdraft, they made sure to pull out the largest amount first to try and make smaller charges also have their own fee tacked on. Now in relation to this article, how traumatic is such an action to someone living paycheck to paycheck?
But hey, some might say just have to earn more to avoid that. They aren't wrong...
Re: the transaction ordering stuff: I thought the CFPB outlawed that ages ago? Or did they roll that back in the Trump years?
This was years ago, before Trump. Maybe something changed after I had left. There's no way it was coincidence of what I saw happen a few times.