Behold, the 17,000% overdraft charge

``"Overdraft fees should not be gotchas when people are using debit cards," CFPB director Richard Cordray said in a conference call. "If a consumer were to get a loan on those terms, it would equate to an APR of 17,000%... a separate study released last year, overdraft services now represent over 60% of fees from consumer checking accounts.'' -- I have now at least twice expressly opted out of overdraft protection when opening a new checking account, and the banks NEVER comply. The whole "option" sheet they give you when you sign up is a foil; there is NO procedure in place to implement an opt-out...