Gone but not forgotten: what I consider to be just another form of bank fraud.
Well only one major bank has announced the change, to the best of my knowledge, but Citibank will now (starting today!) apply items against your account from smallest to largest (instead of the opposite), sparing its customers from financing their operating costs through the overdraft fees of the working class. Now if only the rest of them would follow suit on what always seemed to me like a crime (agreed, a clever one) against those of us that live from paycheck to paycheck.
[I was considering asking the bank to just raise my debt ceiling, but it turns out I don't have that kind of relationship with them. Putting off that underlying issue might just lead to a personal financial crisis of unknown magnitude, but I'd have a better chance of getting elected next year ;) ]
That policy of paying an $1100 check and "bouncing" six $10 ones just so you the banker can collect $200 in fees (of money I clearly don't have) just because I've made a mistake in my ledger, you will not be missed!
LEADERS IN THE FIELD (ALTHOUGH THEY WILL MAKE UP THAT $ SOMEWHERE):
http://archive.chicagobreakingbusiness.com/2011/04/citibank-to-pay-small-checks-first.html
THE TRAP (PRINTED BEFORE THE CHANGE):
http://www.consumerismcommentary.com/how-five-banks-post-your-deposits-and-withdrawals-do-they-trap-you-into-overdrafts/
MAKE YOUR VOICE HEARD!:
http://w2.eff.org/congress/#finding
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