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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.

Banks and credit unions heavily rely on fees from overdrafts and non-sufficient funds transactions. We’ve launched a supervisory effort to measure the impact of overdraft practices on consumers.

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.

People dealing with frequent overdraft fees may face a difficult and expensive uphill climb. These fees are often assessed for reasons people do not expect or understand, take a heavy toll on families living paycheck to paycheck, and in some cases ultimately drive people out of banking altogether.

Overdraft fees cost Americans an estimated $15.5 billion in 2019. Some banks have made recent changes to their overdraft programs; take a look here to see how your bank fares compared to others.

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.

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. 

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.

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

An important part of our mandate is to make rules more effective and create new rules when necessary. Today, we’re posting a semi-annual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

We’re announcing an enforcement action against Alabama-based Regions Bank for charging overdraft fees to consumers who had not opted-in for overdraft coverage. We’re requiring Regions Bank to fully refund all affected consumers – hundreds of thousands of consumers have already been refunded $49 million in fees. Learn more about your choices when it comes to overdraft protection programs, as these programs can be costly.

Today, we’re posting a semi-annual update of our rulemaking agenda in conjunction with a broader initiative led by the Office of Management and Budget (OMB) to publish a Unified Agenda of Regulatory and Deregulatory Actions across the federal government. Our regulatory agenda includes rulemaking actions in the following stages: pre-rule, proposed rule, final rule, long term actions, and completed actions.

Join us for a Community Bank Advisory Council meeting with Director Cordray where we will discuss mortgages and overdrafts.

RSVP to join us for a Credit Union Advisory Council meeting in Washington, D.C., where we’ll discuss overdrafts and consumer complaints.

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 […]

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.