Americans paid ₹95,500 cr in overdraft, bounced check fees

According to data released by the US government, Americans paid $15 billion (₹95,500 crore) in overdraft and bounced check fees in 2016. Banks with assets over $1 billion reported $11.41 billion in fees, a 2.2% increase from 2015. Further, according to a 2014 study, more than half of the consumers aren't aware that they consented to overdraft fees