North Dakota Court: $12,000 Overdraft Fee 'Reasonable'

By Derek Thompson

They're right:

Court records say the bank charged Cavett overdraft fees on 842 occasions from January 2004 until June 2008. They were assessed in varying amounts, depending on the size of the overdraft, and totaled $11,776 during the period. For a $10,000 overdraft, for example, the bank charged Cavett's account $100 a day.
Read the full story at the San Francisco Examiner.

This article available online at:

http://www.theatlantic.com/business/archive/2010/09/north-dakota-court-12-000-overdraft-fee-reasonable/63673/