These People Pay The Most Overdraft Fees

A new report from the Consumer Financial Protection Bureau shows just how much of a bite overdraft fees can take out of some consumers, and provides new prototype disclosure forms it hopes banks and credit unions will adopt. The CFPB examined overdraft fees on debit cards and ATM withdrawals for people who frequently find themselves overdrawn on their checking accounts. Among those who paid 10 overdraft or non-sufficient fund (NSF) fees a year, those who opted into a bank’s overdraft service paid as much as $450 more in fees than those who had similar behavior but who didn’t opt in to overdraft coverage.

from FA News http://www.fa-mag.com/news/these-people-pay-the-most-overdraft-fees-34042.html

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