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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- High-Cost and Hidden from View: The $10 Billion Overdraft Loan Market
May 26, 2005
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
June 14, 2004
CRL ask the FED to put overdraft loans under the Truth in Lending Act under the grounds that they are an extension of credit.