Banks Should Disclose Overdraft Fees
Date: May 9, 2013
Today banks are allowed to report overdraft fees as part of general service charge income, but CRL supports greater transparency. In this comment letter to the Federal Financial Institutions Examination Council (FFIEC), CRL supports a current proposal requiring separate accounting for overdraft-related fees. CRL also urges separate reporting for overdraft fees triggered by debit card purchases and ATMs versus overdraft fees triggered by checks and automated clearinghouse transactions.