The CFPB on Friday released four overdraft disclosure prototypes designed to make it easier for consumers weighing whether to take out overdraft protection.

The one-page form is designed to improve the model form already being used by credit unions and banks.

"When every penny counts, people need to understand how overdraft works, and whether they want to take the risk of paying overdraft fees on debit card transactions and ATM withdrawals," CFPB Director Richard Cordray told journalists in a conference call.

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