Large banks will do things like structure charges so as to extract the
maximum amount of overdraft charges. For example:
You have $40 in your account. You spend $20, then $12,
then $5, then $120. One would logically conclude that at the
end of the day, the bank will resolve these *in order* and
you will have a single overdraft fee. Large banks *cough*
Bank of America *cough* will explicitly structure those charges
to resolve like this: $120, $20, $12, $5. Now you have 3
overdraft fees ($35 a pop when I was with BoA) instead of a
single overdraft fee.
Do you
not see anything morally and ethically wrong with this?
