Consumer Finance

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Research & Analysis

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  • Consumers Need Protection From Excessive Overdraft Costs

    Over the past several decades, banks have increasingly charged consumers fees, such as for overdraft, to generate revenue on checking accounts. Overdraft programs are marketed as a service provided by financial institutions, but in practice consumers often incur unexpected fees that exceed the original transaction amount. Read More

  • How a Set of Small Banks Compares on Overdraft

    According to a survey commissioned by The Pew Charitable Trusts in 2013, 10 percent of account holders paid at least one overdraft penalty fee after using their debit card. Further, the Consumer Financial Protection Bureau (CFPB) found that the median size of debit card transactions that led to an overdraft fee was $24, and the median fee assessed was $34; more than half of consumers repay the... Read More

  • Ohio Has the Highest Payday Loan Prices in the Nation

    Nationwide, Americans in all demographic groups use payday loans. The only requirements to obtain such credit are a checking account and a source of income. Typical borrowers earn about $30,000 per year, and most use the loans to cover recurring expenses such as rent, mortgage payments, groceries, and utilities. Read More

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