PYMNTS-MonitorEdge-May-2024

Overdraft

Canada’s Federal Budget Aims to Curb Overdraft Fees
Canada’s Federal Budget Aims to Curb Overdraft Fees
April 18, 2024  |  Bank Regulation

Canada’s federal budget, released this week, includes a proposal to limit the fees that banks charge customers for overdrawing their accounts. This move is expected...

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Chime Extends Fee-Free Overdraft Feature to Credit Builder Card
Chime Extends Fee-Free Overdraft Feature to Credit Builder Card
March 25, 2024  |  Personal Finance

Chime’s fee-free overdraft feature, SpotMe, is now available when members use the Chime Secured Credit Builder Visa Credit Card, in addition to debit card purchases and cash...

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UK Cost-of-Living Crisis Behind Overdraft Usage Surge
UK Cost-of-Living Crisis Behind Overdraft Usage Surge
December 01, 2022  |  Economy

Overdraft usage in the U.K. has increased by 7.1% since August 2021. This surge, according to a study of 20,000 ClearScore users who opted to...

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How FIs Can Ease Unbanked And Underbanked Consumers’ Challenges And Bridge The Financial Inclusion Gap
How FIs Can Ease Unbanked And Underbanked Consumers’ Challenges And Bridge The Financial Inclusion Gap
July 09, 2021  |  Faster Payments

For most American adults who rely on banks or credit unions to meet their financial needs, it may come as a surprise that 6 percent...

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Starling Debuts Unsecured Business Loans, Ups Overdraft Limits
Starling Debuts Unsecured Business Loans, Ups Overdraft Limits
January 13, 2020  |  B2B Payments

U.K. challenger bank Starling Bank continues to revamp its small business lending strategy with the launch of proprietary SMB loan services, the company announced on...

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BOA Pays $66.6M To Settle Overdraft Fees Lawsuit
BOA Pays $66.6M To Settle Overdraft Fees Lawsuit
November 03, 2017  |  Legal

Bank of America has reached a settlement in a lawsuit over extended overdraft fees, agreeing to pay consumers $66.6 million. Citing a court filing, CNBC...

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TCF Sued By CFPB Over Overdraft Fees
TCF Sued By CFPB Over Overdraft Fees
January 20, 2017  |  Security & Fraud

TCF National Bank is getting sued by the Consumer Financial Protection Bureau (CFPB), which contends that the bank tricked consumers into overdraft services that were...

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CFPB Looks To Regulate Overdrafts In 2017
CFPB Looks To Regulate Overdrafts In 2017
January 03, 2017  |  CFPB

The CFPB is casting a critical eye on overdraft fees charged by banks — despite facing an uncertain future in the Trump administration. The Dodd-Frank-enabled consumer...

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Customers Pay Billions In Bank Overdraft Fees To Top US Banks
Customers Pay Billions In Bank Overdraft Fees To Top US Banks
December 21, 2016  |  Banking

Overdraft fees are big business for banks in the U.S., with the Pew Charitable Trust finding the top banks charged a combined $11.6 billion in...

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