Sunday, July 06, 2008

I appear in this documentary, which was covered by ALL THINGS CONSIDERED last week:

Rising Bank Fees Squeeze Consumers

But this is prompting some consumer backlash. Karney Hatch, for example, recently finished shooting a documentary called Overdrawn! inspired by his own experience of using a debit card to buy $65 worth of items, then getting charged $140 in overdraft fees.

In the film — and at the urging of consumer advocate Ralph Nader — Hatch sues his bank, Wells Fargo, in small claims court and recovers the overdraft charges, as well as the legal fees associated with his suit. The movie does not yet have a distributor.

"I guess what was compelling to me was that it's yet another instance of the rise of corporate power," mostly at the expense of consumers, Hatch said in an interview. "The banker used to be the most trusted person in town, and now they're likely the most reviled person in town ... if you even know the banker."

9:44 PM