First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

overdraft fees

BCCA rules overdraft fees exceeding $5 constituted “interest” under Criminal Code

Can a financial institution’s “overdraft charges” be considered criminal “interest”? In this case, the judge declared that the overdraft fees constituted “interest” under the Criminal Code, but the credit unions appealed.

 

, , ,