Consumer Confidential: Enough is enough. Let's abolish overdraft fees

Bank fees have gotten way out of hand - so much so that they now account for more than a third of revenue for an industry that once made its cash almost exclusively by lending money to customers.

And the worst of the worst are overdraft fees. They're little more than cash grabs, serving no purpose but to fatten bankers' already bulging pockets.

It's time lawmakers put a halt to the practice. Or, barring that, we should follow the example of Britain, which just placed limits on how much can be charged by banks for exceeding available funds.

"Banks have turned overdraft fees into a revenue-generating machine," said