Michelle Singletary, personal finance columnist for the Washington Post, follows up on the “Out of Balance” report from the Center for Responsible Lending last week and says that “many users have discovered, the debit card has the same problem as its credit card cousin — you can spend over your limit, causing yourself all kinds of financial havoc.” She suggests that financial institutions should “restrain their fee frenzy”….

Michelle Singletary, personal finance columnist for the Washington Post, follows up on the “Out of Balance” report from the Center for Responsible Lending last week and says that “many users have discovered, the debit card has the same problem as its credit card cousin — you can spend over your limit, causing yourself all kinds of financial havoc.” She suggests that financial institutions should “restrain their fee frenzy”.

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