From: JIM SCHNELLER [mailto:jasinvstr@yahoo.com]
Sent: Friday, July 30, 2004 10:08 PM
To: Comments
Subject:
In regards to the latest overdraft protection being offered by banks
I believe it is in the best interest
of informed consumers to post or notify on an annual basis the gross
dollar amount received by the
financial institution from overdraft fees for this service, as well as
the amount of fees the bank(s)
have written off as uncollectable chargeoff fees.
This product allows the banks to harvest fees from those honest hard
working consumers, to the betterment of their bank's income statements
and shareholders gain, without mentioning the amount of dishonest users
of these services who escape with writing checks for personal gain and
never returning the funds; those losses to be funded by those honest
consumers.
The honest consumer has a right to know how much of dishonest
monetary gains of banks they are funding.
