The Overdraft Fee Reality: Why We Need Standards to Support Consumer Financial Health
Without industry-wide standards, financial institutions struggle to provide consistent, consumer-friendly solutions to overdraft solutions. Learn how financial health standards can boost transparency, spark innovation, and improve outcomes for everyone.
Overdraft, NSF Fees Bigger Burden Than Previously Estimated
In 2024, consumers spent $12.1 billion on overdraft and NSF fees – approximately 48% more than previously thought.
Five trends to keep in mind as overdraft-fee battles heat up
The overdraft-fee battles are again flaring up following a last-ditch attempt by the Biden-era Consumer Financial Protection Bureau to rein in the charges.
Responding to Reform: Overdraft in 2023
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.
Overdraft Trends Amid Historic Policy Shifts
Overdraft and non-sufficient funds (NSF) fees remain a reality in America’s modern banking system, but the landscape is rapidly evolving. This FinHealth Spend Product Spotlight sheds light on the state of overdraft today, the consumers who use it, and potential implications for financial institutions and policymakers.
Reexamining Overdraft Programs: A Guide for Financial Institutions
Reforming overdraft can help institutions improve customer finhealth, acquire new customers, and boost loyalty.
Amid Resurgence of Interest in Overdraft, New Data Reveal How Inequitable It Can Be
Our team executed a deep dive into FinHealth Spend Report data from late 2020 to learn how customers are using overdraft today amidst the pandemic. The results offer fresh answers to some of the key questions regarding overdraft usage.
Dodging the Overdraft Bullet (So Far)
The economic shutdown and mandatory lockdowns forced many people to limit discretionary spending on retail, food, and entertainment, while stimulus checks and increased unemployment benefits improved financial health in the short term. This aided in a slow down of overdraft.
Technology is Making Parking Tickets Obsolete. Are Overdrafts Next?
Frequent debit card use makes it difficult to keep a diligent check register that accounts for pending payments. Behaviorally informed personal finance apps and smart checking account features have already begun to remove some of the uncertainties posed by recurring cash management challenges, just as smart meters have taken much of the gambling out of parking.
The Riddle of Overdrafting
Much about overdrafting behavior remains a mystery. Given the small amounts and short periods by which overdrafts occur, why aren’t many of them avoidable?