Overdraft Fees Being Scrutinized

27 Feb Overdraft Fees Being Scrutinized

The Consumer Financial Protection Bureau is taking a closer look at how banks apply overdraft fees when customers overspend the money in their accounts.  These fees account for $30 Billion in revenue for banks and they are disproportionately hitting poorer Americans – 90% of those paying fees are low income.  AdvoCharge applauds the efforts to at least bring some accountability and a uniform approach to how banks apply these fees.