Our financial institutions are charging far too much for overdraft fees.

It is not unreasonable to find cases where the overdraft fees from a simple banking accident far exceed the amount that the bank had covered. This is not interest, it is an arbitrary and punitive fee.

They know that you really cannot afford the fees, obviously because your account just went negative.

What did it really cost the bank? You will be depositing a paycheck soon. Are they trying to rake in the profits of cascading overdrafts? Just seems unethical and cruel to those barely making it as it is...

The bank should only be allowed to charge a moderate interest rate and a REASONABLE fee.