Banks pressure customers to keep fees rolling in

Photo:  Chuck Burton/Associated Press. One Bank of America customer said he was told that a station could put a hold on his debit card.

Here is what Chase bank is sending out to its credit card customers:

“Your debit card may not work the same way anymore, even if you just made a deposit. Unless we hear from you,” the message, emblazoned in large red type, warns. “If you don’t contact us, your everyday debit card transactions that overdraw your account will not be authorized after August 15, 2010 — even in an emergency,” with “even in an emergency” underlined for emphasis.

[Source: New York Times]

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