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Channel: Comments on: Financial Marketers Must Focus On Downward Trend In Overdrafts
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By: A F "Bob" Blair Jr

An overdraft is akin to a loan. Some scholar may reveal why overdrafts are not subject to revealing the annual percentage rate of that loan as per the Truth in Lending Act of 1968 (or Dodd-Frank)....

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By: Editor

Bob, what should those working in a bank’s marketing department do with your calculation, since they don’t set the rates, nor make the laws?

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By: A F "Bob" Blair Jr

An individual bank should not do anything. A bank must compete and would not state the much higher Compound APR if other banks used the lower Nominal APR. If legislation is imminent, then banking...

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By: Editor

Bob, I think the point is that financial marketers need to reevaluate their marketing efforts around overdraft. It isn’t so much an issue of rates or legislation; those things are beyond a financial...

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By: A F "Bob" Blair Jr

Call me old-fashioned, but I am debilitatively obsessed with the “TRUTH,” likely imbued by some famous gentleman who said, “… the truth will set you free.” Lenders are very necessary, but perhaps...

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