Overdraft Fees Up Sharply

The Center for Responsible Lending reports that overdraft fees have risen 35% over the last two years.

Summary Findings:

• Finding 1: Over 50 million Americans overdrew their checking account at least once over a
  12-month period, with 27 million accountholders incurring five or more overdraft
  or non-sufficient funds (NSF) fees.
• Finding 2: Banks and credit unions collected nearly $24 billion in overdraft fees in 2008.
• Finding 3: Overdraft fee income for banks and credit unions rose 35 percent from
  2006 to 2008.

Full Report