Research & Analysis
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.
Search Overdraft Loans - Research & Analysis
Browse Overdraft Loans - Research & Analysis
- Comments to OCC on Overdraft and Bank Payday Loans
August 9, 2011
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 deposit personal loans or bank payday loans unfairly strip fees from consumers.
- AFR Sign-on to OCC on Overdraft and Bank Payday
August 9, 2011
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, undermining state payday loan laws, and weakening the long-term safety and soundness of financial institutions.
- Banks Collect Overdraft Opt-Ins Through Misleading Marketing
April 26, 2011
A Center for Responsible Lending survey indicates that most consumers do not want high-cost overdraft coverage for their checking accounts, and that opt-ins are largely based on aggressive and misleading marketing, rather than clear and accurate information from banks.
- Banks Target, Mislead Consumers As Overdraft Deadline Nears
August 5, 2010
Banks want you to allow your checking account to be subject to overdraft fees from debit card purchases.
- National Bank Regulator Enabled Overdraft Abuses
February 24, 2010
The OCC has acknowledged problems with bank overdraft systems but has allowed the banks they regulate to use them.