In this edition of By The Numbers, Patrick Crosby takes a closer look at costly bank fees which can really ding your wallet and counts down the richest individuals in Georgia.
Banks seem to be making out pretty well these days, especially off the backs of its customers.
According to the Consumer Financial Protection Bureau (CFPB), banks captured $11.2 billion in fees from consumers who spent what they didn’t have.
A real shocker in the CFPB findings is that just 8 percent of account holders pay nearly three-quarters of all overdraft fees.
Low-income earners and young people typically made up that 8 percent.
Although rules do exist that require banks to cap these fees, the best way to prevent getting hit with an overdraft charge is to make sure you can cover what you pay out.
On November 2, 2016, GoPro, the compact high-definition camera known to capture images in ways once unimaginable, saw its stock plunge 20 percent in after-hours trading.
That would erase $78 million from the net worth of CEO Nick Woodman, dropping him from his once billionaire status to now a mere executive with $947 million.
Billionaires come and go.
However, there are several individuals in the Peach State that manage to stay up in this fiscal “rare-air” year after year.