I just read that the banking industry brought in $40 billion just in overdraft fees alone last year. That is a lot of money.

Edit: Oh, I was just reading about BofA's new announcement that it will stop automatically charging overdraft fees. How gracious! Unfortunately, the truth is that they're just following a new rule that kicks in this summer. Bank customers must opt-in for overdraft protection, otherwise those overdrafts will simply be denied.

Considering the $40 billion figure I mentioned at the top, you just know that banks will make up that lost revenue some other way. And also slash customer service to reduce costs and maintain their profit margin. Do you like talking to a real human being? Sorry, we're closing all our branches in your city and you'll have to do all your banking at this dinky ATM machine in the back corner of the drug store from now on. Have a nice day and thanks for banking with us!