And car salesmen,and lawyers too.

We can't legislate dumb people smart.

If someone spent countless hours fine-tuning their strategy to bait 16-year-olds into violating traffic rules so they could make profit off of them, yeah I'd have a problem with that.

I guess you're a big fan of speed traps too.

You just might be an authoritarian.

No but when the banks have to be bailed out by the federal government or go bankrupt - we can tell them to knock off the predatory bull****.

Speaking of car salesmen, why even have lemon laws? Can't legislate stupid. Tax on idiots imo.

You mean like the part of don't break the speed limit even though your friends want you to drive fast?

It's pretty simple - don't spend more than what is in your account. Even a 16-year-old should understand this.

You are pretty much impervious to argument aren't you?

Again, there's a difference between "don't spend more than is in your account" than "hey we're going to do everything we can to make it easier for you to spend more than is in your account, then profit off you tremendously as we do it". You don't have the expectation a company that you do business with as a consumer is going to prey on you like that. It's wrong.

Obviously you don't see it that way. You never answered how you feel about payday lenders. Because it's basically the exact same thing - a tax on idiots.

What the banks are doing is the equivalent of the cops letting weeds grow over a speed limit sign then sitting behind it writing tickets for going 1 MPH over. Hey you should have known the speed limit. Sucks to be you. I'm sure you never go 1 MPH over the speed limit right? And if you did and a cop gave you a $200 ticket for it - you'd completely accept this as fair and normal. Right?

Once again we're back to personal responsibility.

No one wants to accept blame for their mistakes. It's always easier to blame someone else.

Right, which is why I favor the death penalty for jaywalking. It's about personal responsibility.

There are no other messy factors to consider like should the punishment fit the crime, or perverse incentives of the entities doing the punishment.

How can anyone defend excessive bank charges lol. Some people are so weird.

Now this oversimplification and misapplication of example should piss me off right?

How can someone defend spending money they don't have?

They shouldn't be allowed to drive period

Banks deliberately structured transactions to add charges even if you didn't go over. On top of that, one mistake would lead to multiple charges, again structured to maximise the amount charged.

The charges were excessive and governments around the world agreed and took action. Amusing that you think you know better.

Fwiw those excess overdraft fees *were* complete bull****.
BofA would allow all your transactions in a day even when your account was empty.
Then instead of processing them in chronological order, after the fact they would apply the largest $ amount first, so that as many other transactions as possible would bounce, and each would trigger a huge fee.
Even if you really overdrafted only one time, they would get you for multiple infractions.

There was a huge class action lawsuit against the bank.
(I got a token $70 or so check in the mail)

It's making about a point about how the punishment should fit the crime. When someone says "just don't do X and Y won't happen to you" it doesn't address the point that Y is excessive.

I know how to manage my money and have never had to worry about over drafts.

My parents didn't fail when raising me to be responsible.

Some people have a huge hardon for any kind of authority.

Congrats!

Now pick an area of your life you aren't so perfect in, and imagine some company somewhere devising strategies to make a huge profit off of you every time you slip up at all.

Impossible.

I'm perfect at everything. My mom tells me it all the time.

Fees and processes were always clearly spelled out for everyone. The only people that had issues were those that chose not to educate themselves but instead thought "Hey, they gave me a magic card that let's me buy stuff. Let's go!" and then are surprised the bank isn't financing their spending for free.

Didace completely missing the point.

Since it's clear you don't get it, maybe you can answer this:
You have $100 in your account.
You use your your card linked to said account for all purchases this day.
You go to the store and buy a soda. $2.
You go to get gas. $30.
You go to a movie. $30.
Time for lunch. $20.
Grab a 6 pack. $12.
Go to dinner. $105.

Over draft fee is $37.
How much should you owe the bank in overdraft fees?

Why are you spending $105 for dinner when you only have $100 in the bank?

It doesn't matter what order they're processed. You deserve every over draft charge they can give for being a ****tard.

I would owe nothing because I wouldn't be spending money I didn't have.

This conversation does not belong in this thread guys.

You just keep saying the same thing and ignore any aspects of the argument you don't want to consider. It's like arguing with a brick wall.

Typical idiotic response deflecting a valid point rather than answering the question.
That would almost belong in this thread, but I think it probably should piss people off.

Ok genius, same question but it's IAE instead of you. How much should he owe?