Without asking for their consent, banks and credit unions unilaterally permit most customers to
borrow money from the bank by writing a check, withdrawing funds at an ATM, using a debit
card at the point of sale, or preauthorizing an electronic payment that exceeds the funds available
in a checking account. Instead of rejecting the debit card purchase or ATM withdrawal at no
cost to the consumer, or returning the check unpaid with a bounced check fee, most institutions
will now cover the overdraft and impose an expensive fee for each transaction.
