Overdrafts

A customer is claiming that the Chicago bank operates a "predatory" overdraft fee program.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and more.

Legislation and regulatory policy that takes a heavy-handed view of overdraft protection could remove a safe and convenient option for consumers managing their finances.

Departing chairman Martin Gruenberg says the financial system is still vulnerable to unforeseen shocks; bank offers ways for customers to avoid overdraft fees.

Under changes announced Tuesday, the San Francisco company will provide a one-day grace period on overdraft fees to its direct deposit customers. It also eliminated overdraft fees on all transactions of under $5.

The financial crisis gave Mary Navarro an unprecedented opportunity to change banking for the better — and she delivered.

House Democrats are lobbying for a bill to reform the way banks charge overdraft fees, but recognizing that Republicans are unlikely to take up the legislation, they are hoping the CFPB can act on its own.

Readers react to Equifax's massive data breach, weigh in on the departure of SoFi's CEO, endorse a new digital identity system, and more.

But the Wayzata, Minn., company is not out of legal hot water, as a judge let stand some charges that it violated a provision in the Dodd-Frank Act that prohibits using deceptive practices to sell consumer products.

Revenue from overdrafts keeps rising, according to new FDIC data, even though the controversial product still has a bull’s-eye on its back. Clearer disclosures and higher consumer confidence are the big reasons.

The startup, which offered credit lines of up to $1,000, hoped to tap into the millennial generation's frustration with overdraft fees.

The San Francisco bank is embroiled in a high-stakes legal battle over the use of arbitration in disputes involving overdraft fees at the same time that adversaries are portraying the scandal-plagued bank as the poster child for why reform is necessary.

Landmark Bancorp in Manhattan, Kan., could lose more than $5 million — more than it earned in the first half of the year — if a recently discovered overdraft situation cannot be resolved.

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more.

The CFPB released four sample disclosure forms for opting in to overdraft programs that it said would make it easier for consumers to evaluate the costs and risks of such coverage.

The CFPB released four sample disclosure forms for opting in to overdraft programs that it said would make it easier for consumers to evaluate the costs and risks of such coverage.

A federal appeals court is scheduled to hear oral arguments in August in a decade-old case against the San Francisco bank that could cost it hundreds of millions in penalties and restitution.

Some analysts suggest CUs cut fees in order to boost revenue, but CU’s haven’t wholeheartedly embraced that philosophy – at least not yet.

Many bank overdraft-related practices favor profits over customer financial health, but those practices are driven in part by lost revenue from an ill-advised Dodd-Frank Act provision.