I don’t know if it’s still the case, but it used to be at least some US banks would order pending transactions in descending order of amount to maximize overdra

I don’t know if it’s still the case, but it used to be at least some US banks would order pending transactions in descending order of amount to maximize overdraft fees. For example, if you had $100 in your account and had charges for $1, $1, $1, $1, and $100 then as a “courtesy”[1] the bank would clear the $100 and then charge $35 times 4 for the remaining transactions. Anyhow that’s really awful and needs to stop, but I don’t see eliminating overdraft fees making a real dent in the advantages wealthy borrowers have. How could underwriting be changed to identify truly creditworthy borrowers who don’t have any financial or real assets? We already know that simply lowering underwriting standards has problems. [1] Their words, not mine.