Small Debit Purchases Lead to Expensive Overdraft Charges

CFPB released a data point on checking account overdrafts.  The study raises concern that a small number of consumers are paying large amounts for overdraft, often for advances of small amounts of money for short periods of time.  It also finds that, among the banks in the study, overdraft and NSF fees represent more than half of the fee income on consumer checking accounts.  The data point is available at http://files.consumerfinance.gov/f/201407_cfpb_report_data-point_overdrafts.pdf