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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- Overdraft Loans: Survey Finds Growing Problem for Consumers
Published: Apr 24 2006 Issue: Overdraft Loans
CRL survey finding sixteen percent of overdraft loan users account for 71 percent of fee-based overdraft loan fees. Repeat users are more often low-income, single, non-white renters.
- Banks in California cannot deduct overdraft fees from Social Security benefits
Published: Jan 19 2006 Issue: Overdraft Loans
CRL's amicus briefs in support of the plaintiff class in Miller v. Bank of America. CRL argues that California law concerning banks' set-off powers forbid banks from deducting overdraft fees from...
- High-Cost and Hidden from View: The $10 Billion Overdraft Loan Market
Published: May 26 2005 Issue: Overdraft Loans
CRL report finds unauthorized overdrafts cost American $10 billion per year, and that they are effectively high-cost loans
- Require TILA Disclosures For Overdraft Loans
Published: Jun 14 2004 Issue: Overdraft Loans
CRL ask the FED to put overdraft loans under the Truth in Lending Act under the grounds that they are an extension of credit.