Dauphine Island Despite the federal investments in banking now, many of the biggest seem to be accelerating predatory practices particularly around fees.  During normal times working families stretching every penny to pay bills will occasionally bounce a check.  Who hasn’t?

Banks seem to in fact count on us bouncing some checks in order to balance their own accounts.

Recent reports indicate that US banks will collect $38.5 billion in overdraft fees in 2009 (according to Financial Times).

The highest bounced check charges are coming from the federal banks like Citigroup, and Bank of America, JPMorgan Chase.  An account holder bouncing a $10 check could be socked with a $35 penalty.  Oh, and don’t forget to replace the 10 spot.

Don’t bother to ask how much of that charge is pure, grade-A profit, because it’s little but profit in the automated systems of modern banking.  We need some financial justice rather than more fees for NO service.