The rest of America may be in a recessio

In 2009, United States banks will collect $38.5 billion in overdraft charges. Interestingly, only 10% of customers pay almost 90% of these fees. The $38.5 billion in overdraft fees is almost twice the amount of fees banks collected in 2000. To the surprise of many industry analysts, overdraft fees have actually risen this year despite the recession. While the median overdraft fee in 2008 was $25, it rose to $26 in 2009. With Wall Street banks, the median overdraft charge is a whopping $35. Overdraft fees have become a massive source of capital for banks and a prodigious burden on consumers.