More Banks Charging Fees to Recipients of Bad Checks

By Ap | St Louis Post-Dispatch (MO), May 13, 1994 | Go to article overview

More Banks Charging Fees to Recipients of Bad Checks


Ap, St Louis Post-Dispatch (MO)


An increasing number of banks are charging fees to the unwitting recipients of bounced checks, as well as those who write them, according to a study released Thursday by a consumer group.

"It is outrageous that banks are gouging innocent victims over a billion dollars while paying us pennies for interest and earning record profits," said Ed Mierzwinski of U.S. Public Interest Research Group.

Eighty-five percent of banks surveyed by the group reported charging a "deposit item return" fee, up from 35 percent in 1991. The research group queried 295 banks in 30 states and the District of Columbia.

Fees ranged from $1.25 to $20 and averaged $5.29.

The writers of bounced checks paid an average fee of $19.09.

The American Bankers Association, a trade group, defended the fees as a reasonable way to recoup the cost of handling bounced checks, but Mierzwinski called on Congress to ban the fees and investigate rising bank fees in general.

Rep. Joseph P. Kennedy II, D-Mass., chairman of the House Banking consumer subcommittee, said he would conduct a hearing next month. "It's unfair for banks to penalize customers who have no knowledge that their deposited checks are bad," he said.

But Ed Alwood of the bankers association said the fees serve as an incentive for retailers and other check recipients to take precautions, such as thoroughly scrutinizing check-writers' identification. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

More Banks Charging Fees to Recipients of Bad Checks
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.