Good for Barney Frank! It’s simply amazing what American banks have gotten away with for years at the expense of consumers.
For example, check out this video report from the NYT/Frontline about the “card game” played by many banks (and credit unions) to profit handsomely from debit purchases that inadvertently go into overdraft.
I don’t believe that Canadian banks engage in this practice, but here’s a neat little trick they pull… waiting until you’re maxed out on your overdraft and then socking you with their monthly fee — which of course sends you past the bounds of your limit and then charging you a hefty penalty the “privilege” of paying their fee. That one always makes me laugh… albeit, mordantly.