We Paid $6B In Fees To The 3 Biggest Banks Last Year

CNN and SNL Financial found that Americans paid a total of $6 billion in overdraft and ATM fees to JPMorgan Chase, Bank of America and Wells Fargo.
SMS
We Paid $6B In Fees To The 3 Biggest Banks Last Year

The top three banks made over $6 billion on ATM and overdraft fees last year.

That's according to SNL Financial and CNN Money

Three banks were studied: JPMorgan Chase, Bank of America and Wells Fargo.

That's $25 for every adult.

They made $5.1 billion from overdraft fees alone.

The total average cost for using an ATM outside your network: $4.52.

Presidential candidates have recently taken up the issue. 

"Can you at least just get back from them the $3 they charge us to get $20 out of the ATM machine?" asked "The Late Show" host Stephen Colbert.

"You know what we need to go after that, too — don't ya think? That's usurious," said presidential candidate Hillary Clinton.

"We must also cap ATM fees at $2. People should not have to pay a 10 percent fee for withdrawing $40 of their own money out of an ATM," said presidential candidate Bernie Sanders.

ATM fees have risen 4 percent in the past year.

This video includes images from Getty Images.

Featured Stories
Former National Security Adviser Michael Flynn

Michael Flynn Is Under Investigation Over Foreign Payment Accusations

Police Drone

One State Is Inching Closer To Putting Lethal Weapons On Police Drones

The Metropolitan Museum of Art

If You Didn't Know, The Met Is Free — But Soon It Might Not Be