HOUSTON -- Note: The following story is a verbatim transcript of an Investigators story that aired on Tuesday, July 29, 2008, on KPRC Local 2 at 10 p.m.

Local 2 investigates changes at your bank that could leave you broke.

Consumers paid more than $36 billion in bank fees in 2006, according to the United States Government Accountability Office.

Now we're uncovering new rules at most large banks that mean you're paying even more.

Investigative reporter Amy Davis shows you the hefty overdraft fees banks are charging consumers even when they're not overdrawn.

---

Video: Could You Be Charged Overdraft Fee Without Being Overdrawn?: Amy Davis Reports

---

One roll of the dice can make you a millionaire in the game of Monopoly. But mother Shelly Fisher lost big, not at the board game, but at her bank.

"I noticed that they charged me a $35 overdraft fee, but I had no negative balance," said Fisher.

Shelly is her family's money manager; but what a Bank of America employee told her might confuse even the most careful banker.

"What they charged me for was for a check that had already cleared my bank," Fisher told Davis.

You can see it on her bank statement in black and white.

Shelly knew she was running low in her account when she saw a pending automatic payment to TiVo.

A $10 check cleared, leaving her with less than $5 in the bank.

She made a hefty deposit to make sure she never dipped below zero. But Bank of America still dinged her account with a $35 overdraft fee.

What happened? Bank of America said that "pending" transaction to Tivo "could have" made Shelly's account overdrawn if it had been processed before she made that deposit.

"So, we're going to be charged for hypothetical situations now?" Shelly said she asked the bank employee.

Leslie Parrish with the Center for Responsible Lending said more and more banks are playing games with your money. And the consumer is often the loser.

"It used to be that overdraft fees were charged as a deterrent," said Parrish. "Now we're seeing that banks are actually almost encouraging people to overdraft and manipulating their bank balances so they overdraft more."

The same thing happened to Mike Mundy.

"I never actually went into the red," he told Davis.

But Bank of America still hit him with two overdraft fees for an account that was not technically overdrawn.

Say you go to a grocery store and pay with your check card, but you hit the credit feature. The amount is not automatically withdrawn from your account. It can take a day or even two.

"When you look at your account and it says "pending transaction," it means just that, it's pending," said Mundy.

But a new policy at Bank of America treats that pending transaction as if were already processed. Even if you make a deposit before that payment clears, you're considered overdrawn.

"The fees are very avoidable. It's very easy to avoid overdrawing an account," said Nessa Feddis of the American Banker's Association.

ABA represents Bank of America, among other banks. But the overdraft dilemma is one that's dogging all consumers at lots of banks.

Just this year, Washington Mutual increased the number of times a day that a customer can be hit with an overdraft fee from five to seven.

There is no limit on the number of overdraft fees Wachovia will charge you.

The Center for Responsible Lending said banks rake in $17.5 billion in fees every year.

"It used to be that if you used your debit card, you couldn't spend more than you have. Today, however, banks routinely approve debit card transactions even if they bring your account below zero, but they charge you $34 for this service," said Parrish.

"Is it income? Yes," said Feddis. "It does represent income, but they are very avoidable. And it's easier and easier to avoid them."

Some consumer groups believe you should have the right to avoid the fees entirely by opting in to overdraft protection programs.

If you don't sign up, your bank would just deny any charges you do not have the money to cover.

"I think most people weren't aware that the overdraft policies had changed until it actually impacted them, so now we're seeing a rising tide in consumer anger against the practice," said Parrish.

The Federal Reserve Board that regulates banks seems to be listening. It has proposed stricter rules on overdraft services and fees; and it wants to hear from you.

The Federal Reserve is accepting public comments on this subject through Aug. 4. You can submit your comments by clicking on any of following links.

Federal Reserve Board: Regulation AA - Unfair or Deceptive Acts or Practices
Federal Reserve Board: Regulation Z - Truth in Lending
Federal Reserve Board: Regulation DD - Truth in Savings

Bank of America did refund those overdraft fees to both consumers in our story, but said it is sticking by its new policy on "pending" transactions. It says nine of the top 13 banks on the U.S. share the policy.