Banks find any excuse to fine customers

Many bank customers are bewildered, angry and frustrated at being fined by their bank for minor breaches of their contract, such as being 10 cents out on a credit card payment or being a day late with a payment. They also resent being fined in unfair circumstances, such as accounts put into overdraft by the bank taking out fees. Bank “fines” range from $15 to $50, and the number of customers forced to pay penalty fees has increased greatly as banks have altered their credit card strategies, effectively reducing repayment periods and allowing cardholders to unwittingly breach their card limit.

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