Survey Suggests Banks, CUs Already Policing Overdraft Fees

November 2009
Credit Union Journal;11/30/2009, Vol. 13 Issue 48, p1
Trade Publication
The article reports that banks and credit unions in Washington have lowered the rising overdraft protection charges. According to a survey conducted by Moebs Services, the rate has lowered from 8.2% since 1999 to 1.2% in June to September 2009. It is believed that the changes in the overdraft charges were stimulated by the efforts of the U.S. Congress to intensify their reign over abusive protection charges. Moebs president Michael Moebs says there are substantial changes in the industry.


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