Massachusetts Bank Making Millions from Overdraft Fees
The largest bank in Massachusetts, Bank of America, collected $371 million last year, followed by TD Bank, which collected $102.7 million.
In total, last year banks collected approximately $2.5 billion, accounting for a large portion of their income.
Consumers can avoid overdraft fees by contacting their banks to opt out of an overdraft program. Many banks also allow linking a checking account to a savings account or credit card in the event of an overdraft.
Original story here: Overdraft fees still bring in money for banks