Document Type
Article
Publication Date
1-2007
Abstract
Overdraft fees now make up more than half of banks' earnings on consumer checking accounts. In the past century, overdrafts have gone from the banker's scourge to the banker's profit center as bankers have learned that there is much to be made on these short term loans at breathtaking interest rates. I note that the federal agencies have been complicit in the growth of this form of lending. I propose that the banks and the agencies recognize the reality and attempt to mitigate these rates by encouraging the development of a competitive market.
Recommended Citation
White, James J. "NSF Fees." Ohio St. L. J. 68, no. 1 (2007): 185-200.
Included in
Administrative Law Commons, Banking and Finance Law Commons, Consumer Protection Law Commons