Debit cards: Another debt trap?

Debit card users are often surprised at the fees charged for exceeding the limit or by the late repayment charges. So much so, there is evidence that these charges have caught the users unaware and increased their debts.


However, the question is, where does the responsibility lie.


Is it with consumers who fail to balance their checkbooks and unwittingly rack up these fees? On the other hand, should there be tighter federal regulation of debit cards and overdraft fees?


Read an interesting discussion on this topic at the Room for Debate Blog.