Checking accounts still command loyalty and still have revenue benefits.
Financial institutions have raised the median price of overdraft fees by 3.4% since 2011, with credit unions leading the way, the report noted.
A survey overseen by a financial management website found that the fewest number of banks since 2009 offer fee-free checking accounts.
Georgia Credit Union Association says state, federal credit unions both now exempt from fee limits on overdrafts.
Overdraft fees at the nation’s 14 largest banks have increased after two years of stagnation, according to the Consumer Federation of America.
According to Rep. Carolyn Maloney (D-N.Y.) and 46 co-sponsoring House Democrats, the Federal Reserve’s opt-in rule for courtesy pay didn’t go far enough.
The Consumer Financial Protection Bureau has decided to take a second look at the issue.
State Employees' Credit Union has fixed a problem in its overdraft service the North Carolina CU says has saved members roughly $24 million in fees.
A new study conducted by Lake Bluff, Ill.-based economic research firm Moebs Services reveals that since the Federal Reserve’s August 2010 implementation of Regulation E, which requires financial institutions to receive consumer approval prior to cover debit card and ATM overdrafts, CU overdraft transaction prices have remained flat at $25.