Commentary In their glorious magnanimity, Bank of America has announced it’s cutting its overdraft fees. Now when you stretch past your means, you’ll no longer be penalized $35 … but only $10. (Of course, that doesn’t start until May.) More banks are expected to follow this trend. It’s no small act of generosity on their part. According to the Consumer Financial Protection Bureau, “we estimate that the overall market revenue from overdraft and NSF fees was $15.47 billion in 2019.” On BofA’s most recent earnings call with investors, they estimated their hit as a result of the fee reduction to be roughly $750 million to $1 billion. So the cost of banking is going to get a little cheaper for many Americans. But I don’t think that should be the headline. Does it strike you as odd that the industry makes that much money from overdrafts? From people extending beyond …