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Consumers Spent $11.7 Billion in Bank Overdraft Fees Last Year

Consumers Spent $11.7 Billion in Bank Overdraft Fees Last Year

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FintechUSA
··1 min read

According to research from the Center for Responsible Lending in 2019 American consumers spent $11.7 billion in overdraft fees; the report focused on banks with more than $1 billion in assets and found that 84% of the overdraft fees generated came from just 9% of bank account holders; the organization has also said that banks should halt overdraft fees during the pandemic, a move that many banks have already done; the Center for Responsible Lending supports policies to improve access to the financial system for poor and marginalized groups. NY Times

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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