Overdrafts

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit.

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit.

The Trump administration's stance on immigration is causing headaches for some banks, how a tiny black-owned bank is turning to fintech to turn itself around; why banks are rejecting Facebook's offer to share data and more from this week's most-read stories.

Readers opine on prospects for the midterm elections, respond to Facebook's forays into collecting bank data, weigh in on new overdraft legislation and more.

There’s much for banks to like — and for consumer advocates to dislike — in a report on the industry's overdraft policies released Tuesday by the Center for Responsible Lending.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals — a move that could negatively impact a major credit union revenue stream.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals.

Federal bank regulators consider roughly a dozen new rules; firms tout tools to help financial institutions bank legal marijuana-related businesses; Mick Mulvaney defends CFPB enforcement powers; and more from this week's most-read stories.

Its noninterest expense rose 17% from a year earlier, in part because of costs stemming from its recent overdraft protection settlement with federal regulators.

The bank also agreed to pay a $5 million fine to settle allegations over how it obtained consumers' consent.

The suit against Alliant Credit Union comes just weeks after trade associations said firms were using social media ads to target plaintiffs for a potential class-action case.

These teens and early 20-somethings are hardworking, frugal, prudent, debt averse and fiercely opposed to fees — much like their great-grandparents who grew up during the Depression.

How the big banks fared in the Fed's latest round of stress testing; what's on new FDIC chair Jelena McWilliams' plate; why banks' biggest risk factor may be employees who don't speak up; and more from this week's most-read stories.

At a time when credit unions have seen a major increase in fee income from overdrafts, several big banks are following Silicon Valley's lead by offering new fee-free accounts.

JPMorgan Chase and Wells Fargo are following Silicon Valley's lead by offering new fee-free accounts. While there are risks involved, the cost of doing nothing would be significant, analysts said.

As if ADA suits weren't enough, a California-based law firm is using social media advertising to search for credit union members who have been charged overdraft fees, in the hopes of filing a potential class-action suit.

A new report sees credit unions making significant gains in overdraft income as banks and thrifts shift their focus away from single-service customers who only want checking accounts.

Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.

The consumer lender Oportun is rolling out a product designed to combat overdraft fees.

The credit union is being sued by a member who claims the CU improperly charged him overdraft fees based on his available balance rather than his actual balance, thus triggering additional NSF charges.