There's more to overdraft reform than just fees

• Oct 31, 2022
• By Joel Schwartz

The great overdraft debate has focused on fees. And as the pandemic began to wreak havoc on consumers, some financial institutions moved quickly to proactively address consumer complaints about overdrafts—especially those that regulators have identified as a legislative focus. With so many “fee free” programs in motion, we’re faced with a new question: Is reducing or eliminating fees really enough to change the overdraft game? However you look at it , the answer is a resounding no. Why? Financial institutions have been focused on t...

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