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Resource ID: #15296
Subject: Banks
Source: KTVT-TV (Dallas)
Date: 1998-11-23



This story is about the legal but little talked about practice employed by major banks nationwide. The process is known as check ordering, when banks take checks written on an account, and process them in descending order by amount, regardless of number or date written. The story uncovers evidence that the basis for this practice is simply to allow banks to maximize non-sufficient fund fees (NSF fees) they collect on bounced checks.

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