Bank customers' overdraft grows in spite of law

By JPOST.COM STAFF
March 26, 2006 19:19




Despite the law requiring the banks to eliminate customer overdrafts by July 1, the customers' debts have only grown in February compared to January. During the six-month adjustment period, the banks offered their customers loans in order to help them balance their negative budgets. Channel 2 reported that almost one third of the clients took advantage of the loans. However, instead of using the loans for their overdraft, they spent the loans for their own needs.


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