Are Banks Making Too Much Money From Fees? Some banks have begun offering lucrative services that were once left to check cashing storefronts and payday loan outfits. The banking industry as a whole earned nearly $30 billion last year from overdraft fees on debit cards and checking accounts. Two years ago almost all banks offered free checking, now about a third do. Since the collapse of the housing bubble, and the recession, banks have been making more money from consumer fees. Do these charges need to be more closely regulated or limited, or are they necessary for the health of the banks, and the economy.