Personally, I fail to understand how a bank is being 'rude' in such circumstances.
Aren't YOU the one being rude for expecting the bank to cover your expenditure even though you have no money in your account?
The bank doesn't have to grant you this convenience - they could just expect you to know how much is in your account and never spend more than that.
Of course, that's expecting some level of personal responsibility from people who are driving, handling bills, raising children and probably voting.
According to the Consumer Federation of America, the typical debit card overdraft made by a customer is $20. But the typical penalty fee charged by big banks is $35, and it goes up exponentially the longer it is not paid.
This certainly seems reasonable to me. The idea of the overdraft charge is not to provide a short-term loan to individuals without the usual agreement between lender and borrower - it's provided as a true 'courtesy' by a supplier of a product to prevent you from facing embarrassment. The fee for the overdraft is to discourage you from overdrawing your account on a regular basis. And having the fee increase the longer it's not paid is just common sense!
Think about it: if you suffered no negative consequences for overdrafts, wouldn't you have more of them?
That's the point!
Your irresponsible behavior in spending more than you have is covered by the bank and they deserve to be compensated for the effort and the costs - and to be compensated in a way that discourages you from continuing to be irresponsible in the future.
I see nothing wrong with this.
But politicians - and the editorial board of The Blade - obviously do. They all must think people are idiots. They think these fees, which they describe as 'astronomical,' inappropriately 'cost you.' The fees do cost you, but they should!
Yet these same do-gooders, out to protect the stupid among us, fail to take into account how much the irresponsible behavior of the overdrawn customers inappropriately costs the banks - or the other depositors who don't overdraw their accounts.
Leftists on editorial boards and politicians in Washington, Columbus and One Government Center need to stop promoting feckless, immature and immoral behavior and stop passing laws designed to make others responsible for your bad decisions.