Bank customers' overdraft grows in spite of law

By JPOST.COM STAFF
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.