I thought I would share with you a great video which documents one consumer’s fight against the usurious fees charged by the banks for overdrafts. Due to consumer unhappiness and petitioning, U.S. lawmakers have proposed new overdraft fees which has the banks quaking in their shoes. As a result, some banks have been changing their banking policies.

In 2007, Karney Hatch, after receiving some overdraft fees on his account, decided to test the banking overdraft system. He opened a Wells Fargo checking account for the test and in his own words “with a balance near zero”, went shopping for things to see if he could incur overdrafts. Sure enough, he was able to purchase many items. At the end of his shopping day, he had overdrawn the available balance, and as a result was charged three $30 overdraft fees for 3 items costing under $1.00.

After an unsuccessful attempt over the telephone to get the charges removed, Mr. Hatch decided to get Wells Fargo’s attention through a small claims suit (filing fee of $47.50). Wells Fargo immediately agreed to remove the overdraft fees and reimburse him for court costs.

The bottom line, it would have cost the bank more money to send their lawyers to fight the case than to just remove the charges.

Here’s his well-produced documentary:

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