Summary
Perhaps you have overdraft protection for your checking account. I do. Roanoke City Public Schools has had it since 2008.
The school system arranged for $10 million worth with Wachovia Bank, and has renewed it each year since, though like me they've hardly ever used it.See the full content of this document
Extract
Wells Fargo's Money Wagon
The first year, the "administrative fee" to have the account was $1,000, not counting the interest the system agreed to pay if they used it.
After Wachovia failed in the 2008 financial crash, it was bought by Wells Fargo, one of the largest banks in the United States.The next year, the overdraft ...See the full content of this document
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