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This blog post examines recent changes in overdraft and NSF fee revenues reported in call reports to understand how announced changes in overdraft policies affected these revenues.

A number of large banks are eliminating non-sufficient fund (NSF) fees on checking accounts, cutting total NSF fee volume by about 50%, or $1 billion, annually. Other banks continue to charge these fees. The Bureau is closely scrutinizing whether and when charging these fees may be unlawful.

Bien sea que usted ya tenga desde hace tiempo una cuenta corriente, en un banco o cooperativa de ahorro, o que quiera pronto abrir una nueva, contamos con recursos que pueden ayudarle a tomar la mejor decisión.

Whether you’ve had a bank or credit union checking account for a long time, or are planning to open a new account soon, we have resources to help you make the best decision for you.

¿Usted está pensando en abrir una cuenta de cheques, pero no está seguro por dónde empezar? Tenemos recursos que le pueden ayudar a seleccionar el producto que mejor se ajuste a sus necesidades financieras. Nuestras nuevas guías sobre cuentas tienen información para ayudarle a comparar y luego manejar su cuenta de cheques.

We’re releasing a report about consumers’ experiences with overdraft programs. Many of the people we spoke with were surprised about overdraft fees. Take control of your checking account with our tips and guides.

In order to make overdraft disclosure more straightforward, we’ve created four possible designs for a new disclosure form. 

We recently published our Consumer Response Annual Report, which provides an overview of the complaints we received in 2016. 

Banks and credit unions can only charge you overdraft fees on one-time debit card transactions and ATM withdrawals if you “opt in.” Learn more about the opt in choice, and steps you can take to reduce or eliminate overdraft fees on your checking account.

For the first time in 2015, large banks began reporting separately certain categories of fees—including overdraft and non-sufficient fund fees. The new fee revenue information is helping us understand the magnitude and diversity of banks’ overdraft programs. Here are some tips to help you reduce or avoid overdraft and NSF fees.

Today, we held a field hearing on checking accounts in Louisville, Ky. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.

Are you thinking about opening a checking account but aren’t sure how to get started? We have resources to help you select a product that’s best suited for your financial needs. Our new account guides have information to help you shop for and manage your checking account.

RSVP to join us for a field hearing in Louisville, Ky., about access to checking accounts

We held a forum on access to checking accounts in Washington, D.C. The event featured remarks from Director Richard Cordray, as well as presentations from consumer groups, federal and local government officials, and industry representatives. A recording of the event is available.

We’ll host a discussion on how checking account screening policies and practices impact consumers. The event will inform the dialogue around how the screening system works and how to improve the availability of information and products for consumers.

This post is part of a series for National Consumer Protection Week We began taking credit card complaints in July 2011, and we now can help with complaints about mortgages, bank accounts and services, student loans, vehicle and other consumer loans, and credit reporting. How do I submit a complaint? Submitting a complaint and tracking […]

Since we launched on July 21st 2011, we’ve heard directly from consumers about the challenges they face in the marketplace, brought their concerns to the attention of financial institutions, and helped address their complaints. Accepting, resolving, and analyzing consumer complaints is an integral part of our work. This week, we’ll be featuring stories from consumers […]

In February, we launched a public inquiry and an industry research study to gain insight into overdraft practices. Both initiatives are continuing and will provide us with great perspective on how overdraft programs work. The Notice and Request for Information originally called for all public comments by the end of this month. While we’ve already […]

Today we are expanding our consumer response system to take consumer complaints on checking and savings accounts. These accounts play a critical role in the lives of most Americans, but they can also be a source of great frustration. Since last year, we have helped consumers bring concerns about credit cards and mortgages to the attention of their financial institutions. Adding deposit accounts is an important step.

Submit a complaint about a checking or savings account.

Our live events on checking have ended. You can watch an archived recording of the morning roundtable below, or read Director Richard Cordray’s remarks. And make sure to check out the work on overdrafts that we announced:

As we begin our inquiry into overdraft practices, we’ve issued a consumer advisory on overdraft coverage and fees. Institutions can’t charge you for overdrafts on ATM or point-of-sale debit card transactions unless you have opted in. Knowing your status can help you decide what’s best for you.

Gail Hillebrand, our Associate Director for Consumer Education and Engagement, suggests four simple ways you can reduce or eliminate overdraft fees.

Yesterday’s CARD Act conference commemorated the first anniversary of the day when many provisions of the Credit CARD Act went into effect. Industry executives, leading academics, consumer advocates, government officials, and the CFPB convened to review changes in the card industry since the Act. In conjunction with the conference, the CFPB commissioned a survey to […]