NACA in the News: Overdraft fee income is on the rise at these big banks

“Some consumer advocates worry that the repeal of the rule and the dismantling of the CFPB are creating opportunities for banks to alter their overdraft policies. Christine Hines, a senior policy director at the National Association of Consumer Advocates, said that without the CFPB acting as a watchdog, banks ‘can go back to doing what they do without supervision.’

The higher prices of goods and services are also likely playing a role in the increase in overdraft fee revenue, Hines noted.

‘I think it also really gets to the point that if people are struggling, the overdraft rule would have benefited them a great deal,’ she said.”