Research & Analysis

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In addition to CRL’s extensive research documenting unfair overdraft practices, the FDIC and the Government Accountability Office have both produced reports outlining the abuses. CRL’s latest estimate of the overall cost of unauthorized overdrafts to Americans every year is $23.7 billion. We have also found that debit overdrafts cost $2 for every dollar “borrowed” from the bank to cover them.

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  • Prepaid Accounts Under the Electronic Fund Transfer Act and the Truth in Lending Act
    Published: Apr 1 2015      Issue: Overdraft Loans, Credit Cards

    In response to a request for comment, CRL offered feedback to the Consumer Financial Protection Bureau about the agency’s proposed rule addressing prepaid cards. The CFPB’s proposed rule would...

  • Overdraft U: Student Bank Accounts Often Loaded with High Overdraft Fees
    Published: Mar 27 2015      Issue: Overdraft Loans, Student Loans
  • Comments to Department of Defense: Expanding Credit Protections for Service Members and Their Families
    Published: Aug 1 2013      Issue: Overdraft Loans, Payday Loans

    Although the Military Lending Act has resulted in significant improvements, Service members continue to be the target of predatory lenders. In 2012, members of the military filed 61,642 complaints...

  • The State of Lending: High-Cost Overdraft Fees
    Published: Jul 30 2013      Issue: Overdraft Loans

    Many banks and credit unions continue to charge abusive fees on debit cards and checking accounts. In this report, "High-cost Overdraft Practices," CRL finds that, in spite of regulatory changes in...

  • Banks Should Disclose Overdraft Fees
    Published: May 9 2013      Issue: Overdraft Loans

    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...

  • Comments to CFPB on Overdraft Practices
    Published: Jul 6 2012      Issue: Consumer Financial Protection Bureau, Overdraft Loans

    CRL joined with CFA and NCLC to provide the CFPB (Consumer Financial Protection Bureau) with documentation of bank overdraft practices and their impact on consumers. The CFPB should stop banks from...

  • Comment to the Federal Reserve on Notice by Capital One to Acquire ING Bank
    Published: Sep 20 2011      Issue: Overdraft Loans

    The Center for Responsible Lending commented on Capital One's proposed acquisistion of ING Bank at a public meeting held by Federal Reserve on September 20, 2011.

  • AFR Sign-on to OCC on Overdraft and Bank Payday
    Published: Aug 9 2011      Issue: Overdraft Loans, Payday Loans

    Consumer groups fear OCC proposed guidance may legitimize and facilitate the spread of payday lending by national banks, and banks would continue abusive overdraft practices—harming bank customers,...

  • Comments to OCC on Overdraft and Bank Payday Loans
    Published: Aug 9 2011      Issue: Overdraft Loans

    CRL filed comments to the OCC on August 8, 2011 urging them to strengthen rules on overdraft and bank payday lending. Automatic debit overdrafts, re-ordering of account transactions and direct...

  • Overdraft Opt-In Savings
    Published: Jun 23 2011      Issue: Overdraft Loans

    Better Overdraft Policies Put Money Back In Consumers' Pockets: Regulators Must Stop Remaining Overdraft Abuses

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