Bankers, but, tout overdraft security as a of good use device for customers.

“People today are receiving difficulty ends that are making,” says Richard Edgar, president of Valley Ridge Bank in Kent City, Michigan. “If it is a means them. to allow them to get meals or their prescriptions, more energy to” Edgar states his bank’s overdraft program is “not that loan” but rather “a privilege.” Yet opponents say that such overdraft “privileges” are indeed loans—and predatory people at that. “These items are even even worse than payday advances,” says Chi Chi Wu, legal counsel because of the nationwide customer Law Center in Boston. Plus »