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.
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Browse Overdraft Loans - Research & Analysis
- Shredded Security
June 18, 2008
Report on the impact of unauthorized overdraft fees on older Americans.
- Require opt-in for overdraft
June 13, 2008
CRL discusses importance of requiring banks to get explicit permission from customers before enrolling them in high-cost overdraft.
- Consumers Want Informed Choice on Overdraft Fees and Banking Options
April 16, 2008
A CRL survey finds respondents prefer that their bank or credit union deny debit card purchases that are not covered by the funds in their checking account, whether their purchase is for $5, $20 or $40.
- Overdraft Loans Trap Borrowers in Debt
March 18, 2008
CRL brief explains how overdraft loans trap account holders in high-cost debt to their banks.
- Billion Dollar Deal
September 24, 2007
As two trends collide—increasing use of debit cards among young adults and increasing use of abusive overdraft practices among major banks—college students and young workers just starting their adult lives are paying a high price.