Stories Tagged as
Overdraft fees
Overdraft fees, long associated with big banks, are big business for credit unions too
by
Scott Rodd
Dec 28, 2023
A first-of-its-kind California law shows how much credit unions receive in overdraft charges, which often burden low-income families.
Bank fees and minimum balances have risen to record highs, survey finds
Oct 20, 2021
The average minimum balance needed to avoid fees is now nearly $10,000
Banks suspended overdraft fees for the pandemic. Now, 1 is doing so permanently.
Jun 3, 2021
Ally Bank says the charges made up less than 1% of revenue and disproportionately affected Black, Latinx and low-income customers.
Big banks pledge overdraft relief so customers reap full benefits of COVID-19 checks
by
Nova Safo
Apr 16, 2020
Big banks say they’ll give customers a temporary break on negative balances.
CFPB is taking a fresh look at bank overdraft fee rule
by
Renata Sago
Jul 2, 2019
The Consumer Financial Protection Bureau is reviewing a 2009 rule that regulates how banks charge customers who overdraw their checking accounts.
Overdraft charges and fees aren't as profitable as they used to be
Sep 10, 2014
The banking industry is taking in fewer profits from fees, but that doesn't mean they're going anywhere.
Bank fees and the $38 latte: Back with a vengeance
Jun 11, 2013
Opting into your bank’s overdraft protection could leave you paying higher fees and make your account more likely to be shut down, according to a new report from the Consumer Financial Protection Bureau.
For public good, not for profit.
Despite reforms, bank fees keep rising
Sep 24, 2012
Banks are spreading the pain of fees to a wider swath of clients, according to a Bankrate study. Free checking is a dwindling option.
Money Matters: Bank customers v. overdraft fees
Jun 12, 2012
A new study that finds Americans still paid $30 billion in overdraft fees last year despite efforts to curb them. Here are the facts you need to know.
Overdraft America
May 3, 2012
Bank overdraft rules are poorly understood, especially by two groups: the young and low-income consumers.