This page contains a single entry from the blog posted on January 12, 2009 4:06 PM. The previous post in this blog was Let them eat cake. The next post in this blog is Harbinger of doom. Many more can be found on the main index page or by looking through the archives.

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Monday, January 12, 2009

Help the economy

Bounce some checks.

Comments (4)

Send me a copy of the report, please.

The check is in the mail.

The old 20 / 80 rule (20% of the account holders produce 80% of the NSF charges) is cited here - I'm (sort of) glad to see that it still applies, as I thought everything in banking was supposedly turning upside down.

I'm also glad to be part of the 80 / 20 segment (the extreme end, that is) - those fees are higher than I thought, but I just wouldn't know.

A great book on this subject is "Short Changed: Life and Debt in the Fringe Economy" by Howard Karger.


I don't get it. If someone writes you a hot check the recipient gets hit with a fee, as well as the hot check writer - even though it makes no sense to try and cash a check you know isn't good.
Yet if you suspect that a check is NSF the bank cannot tell you whether it is good or not so you cannot avoid the NSF fee.
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