FDIC Federal Register Citations

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.