HSBC may have overcharged customers $600million

Yesterday the bank reported impressive profits for 2007 despite writing down $17 billion of bad (subprime) debt. Today, the story is a bit different though all too common. Bank fees have been receiving special attention in the UK lately and now the issue is starting to be raised in the US as well. The banks overcharge because they can so easily get away with it. When the money was flowing, no one paid much attention but now that times are tightening up, $600 million just might be enough to make governments move. Perhaps.