Think firm reviewed websites of 1,676 financial institutions, found both sides of aisle lacking.
Overdraft revenue fell nearly $1 billion for credit unions, banks and thrifts in first quarter 2013, according to the latest quarterly study on overdrafts by Moebs Services, a Lake Bluff, Ill.-based economic research firm.
Do credit union members think more positively than non-credit union members do when it comes to the U.S. economy and their personal finances? According to the Discover U.S. Spending Monitor, a monthly consumer survey conducted by banking and payment services giant Discover Financial Services, the answer is yes.
Credit unions lost $1.4 billion in overdraft revenue in 2011 due to a bank-initiated overdraft price increase and the increasing popularity of alternative short-term loans, according to a new study from Lake Bluff, Ill.-based research firm Moebs Services.
If you’re going to overdraw your checking account by $100 or less, your most cost-effective bet is to borrow money from a payday lender, not to use an overdraft service or let your check bounce.
I recently reported an interesting statistic out of Lake Bluff, Ill.-based economic research firm Moebs Services: 77% of U.S. consumers chose to allow for debit card and ATM overdrafts since the 2010 implementation of Regulation E.
Interesting stat: 77% of U.S. consumers chose to allow for debit card and ATM overdrafts since the 2010 implementation of Regulation E.
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.
Moebs Services study finds number of offerings dropping for for savings or credit lines, debit and ATM usage rising.
By the end of 2010, the banking industry is expected to have earned $35.4 billion in overdraft fee revenue, down from $37.1 billion in 2009 and on track with 2008, according to a recent Moebs Services study.