Research & Analysis
HIGHLIGHT
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.
- National Bank Regulator Enabled Overdraft Abuses
February 24, 2010The OCC has acknowledged problems with bank overdraft systems but has allowed the banks they regulate to use them.
- More banks are denying debit card overdrafts
November 4, 2009Debit cards were once a safe alternative to the convenience of credit cards, with the advantage that you could not get into trouble with debt. Now they are dangerous, often triggering bank overdraft fees unexpectedly.
- Support H.R. 3904, the Overdraft Protection Act of 2009
October 29, 2009Congresswoman Carolyn Maloney proposed the Overdraft Protection Act of 2009, which would reform out-of-control bank and credit union overdraft practices. Fees for debit card transactions and other types of overdrafts have reached well over $20 billion per year.
- The Overdraft Protection Act of 2009
October 29, 2009Eric Halperin, director of CRL's DC office, submitted testimony to the Financial Services Committee of the U.S. House on H.R. 3904, the Overdraft Protection Act of 2009. He called the Act a crucial measure for protecting consumers from abusive bank overdraft fees, which have reached $23.7 billion per year. The Federal Reserve Board has failed to address the problem, and reform is urgently needed.
- Senate bill S 1799 would reform out-of-control overdraft practices
October 23, 2009The Center for Responsible Lending strongly supports the FAIR Overdraft Coverage Act as it would represent a major advance in overdraft reform.
- Overdraft Explosion: Bank fees for overdrafts increase 35% in two years
October 6, 2009Banks and credit unions collected $23.7 billion in overdraft fees in 2008.
- Quick Facts on Overdraft Loans
April 9, 2009Brief facts about overdraft loans, largely derived from CRL research
- Comments on Regulation E—Overdraft Practices
March 30, 2009The Center for Responsible Lending, along with Consumer Action, Consumer Federation of America, Consumers Union, National Association of Consumer Advocates, National Consumer Law Center (on behalf of its low-income clients), and U.S. PIRG provide the following comments regarding the Federal Reserve Board’s proposed rule to amend Regulation E pursuant to the Electronic Funds Transfer Act.
- Overdraft Fees and Opting In Survey
March 23, 2009A survey of consumer preferences regading overdraft fees and the choice to opt-in to such programs.
- Comment: Proposed Rule Regarding Unfair or Deceptive Acts or Practices – Overdraft Practices
August 4, 2008Overdraft comment letter


