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In capitalist America, the bank robs you! (infosec.pub)

submitted 5 days ago by cm0002@toast.ooo to c/usa@midwest.social

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[–] immutable@lemmy.zip 6 points 5 days ago

I’m not sure where the tweet is getting it’s figures.

For context though I did find this article on Motley Fool

In 2025, 12% of Americans paid an overdraft fee. Those charges, which cost $35 per incident on average, can quickly snowball into financial stress. Even as some banks eliminate overdraft fees, revenue from those and similar fees was nearly $6 billion in 2023

**Low-income earners drive overdraft fees:**23% of those earning less than $25,000 and 20% of those earning $25,000 to $49,999 were hit with an overdraft fee, compared to 6% of those earning $150,000 or more

So some quick math.

The census bureau put the US population at 336,815,549 in 2023.

12% of that is roughly 40M people who paid about $6B.

$6B / 40M gives an average overdraft fee of $150. Where 43% of those having to pay earned less than $50k per year.

So the numbers in the tweet dont quite match up to what I found, but the overall sentiment of banks making a lot of money from poor people not having money seems to roughly pan out.