In 2024, consumers spent $12.1 billion on overdraft and NSF fees – approximately 48% more than previously thought.

After pivotal reforms in 2022, this FinHealth Spend Product Spotlight sheds light on the state of overdraft fees today, how consumers use overdraft, and potential implications for financial institutions and policymakers.

Innovations in fintech are creating new opportunities – and posing new risks – for consumers with invisible, unscorable, or subprime credit.

Reforming overdraft can help institutions improve customer finhealth, acquire new customers, and boost loyalty.

While technology-driven financial products, services, and institutions have the potential to benefit consumers, they can also pose new risks due to the increased availability of financial data. To better understand the consumer perspective on the use of financial data, the Financial Health Network fielded a nationally representative survey. The findings in this report describe consumer understanding of practices in the financial data ecosystem, and consumer preferences on how they would like personal data to be treated. These findings can serve as a guide to both industry stakeholders and policymakers as they seek to build trust and ensure that both practice and policy serve consumers.

Despite the vast data collected by our government, we lack an accepted method of assessing financial health. Learn why we must measure not only each household’s annual income but also its annual spending, saving, borrowing, and planning habits to identify communities whose financial health is poor, deteriorating, or failing to keep pace with overall improvements.

Across each phase of involvement with the criminal justice system, individuals and their families often experience negative financial health outcomes.