Good & Bad OD Fees
Markets for overdrafts vary considerably lead by low price leaders – read more below.
Community Banks & Large Credit Unions Lead the Way to Lower Priced ODs
Lake Forest, IL (January 18, 2021) The largest survey ever done on overdraft fees for banks, credit unions and savings banks reflects how overdrafts are changing.
Economic research firm Moebs $ervices reveals how overdrafts, the largest fee revenue source from consumers for depositories, are shifting from penalty pricing to error charges.
“This is a huge contrast in many decades for the overdraft business,” states Michael Moebs, CEO & Economist for Moebs $ervices. The average overdraft price at the largest financial institutions (FIs) increased to $33.19. This is higher than ever before in the Moebs studies dating back to 1986 and Federal Reserve studies going back to the late 1950’s. Read Full Article
Written By: m.moebs
Date Posted: 1/21/2021
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