Word: overdraws
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...Insight, which tracks pricing trends for financial institutions. His firm is being flooded with requests for fee studies - competitive overviews of how much other banks are getting away with charging customers for things like bounced checks. Many banks are moving to a tiered fee structure. The first time you overdraw your account, you might be charged $28, but do it again and the penalty becomes...
...Eisenhower fired his chief of staff, Sherman Adams, for giving Government favors to an industrialist and taking a vicuña coat and an Oriental rug from him. Jimmy Carter defended his Budget Director and crony, Bert Lance, until Lance quit under charges that he had permitted relatives to overdraw their accounts in a bank he had headed. And then, of course, there were Richard Nixon's Watergate transgressions...
...also stuck with a commitment that could cost some $4 billion more by 1988. Israel's banks offer financial services that range from making loans to acting as stockbrokers. They are now retrenching to cut their losses. One tough move was aimed at the many depositors who habitually overdraw their bank accounts between monthly paychecks. The banks have begun charging stiff monthly rates of up to 16.25% for overdraft privileges, compared with some 13% in December. Other steps have included stricter credit-card policies and a 20% increase in fees and commissions on most transactions...
...loans from New York's Manufacturers Hanover Trust Co. and Chemical Bank? Why did the Justice Department close its investigation into the Calhoun overdrafts the day before Lance was nominated as OMB director? Was it really common practice, as stated by Jody Powell, for small-town bankers to overdraw their accounts? And why was only a cursory mention made of the comptroller's investigation during Lance's confirmation hearings? Could internal memos at Manufacturers Hanover Trust be so specific about a 20% compensating balance between NBG's correspondent account and Lance's personal loan...
...taxed at an average rate of 63%, which makes the inflation hurt more. Fairly typical is Esther Mizrachi, 38, a Jerusalem housewife, who says, "If we can pay for our food and our children's education, we'll feel lucky." Yet the Israelis manage somehow; they overdraw on checking accounts to meet food bills, artfully dodge a tax law here and there. Though a Volkswagen Beetle costs $8,000 (excise taxes nearly triple the price of all cars), the number of private autos has nearly doubled since...