Facebook Users Fight (And Beat) Bank's Decision

Here’s a brilliant financial guideline by which most people live: don’t spend more money than you have.  But when a UK bank tried to enforce that guideline by charging interest on overdrafts, a big, Facebook-style fuss erupted.  An interesting resolution then occurred: the Facebook users won.

There’s a bit more to the story than that, however; while some irresponsible “young‘uns” will indeed get away without paying interest, their bank appears to have been acting in an underhanded manner.

“In previous years HSBC, like other high street banks, had allowed students an interest-free overdraft typically up to £1,500-£2,000 for the first few years after graduation,” report Hilary Osborne and Harriet Meyer for the