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“The Economy, Stupid.” Phrase used by Presidents Clinton & Trump Campaigns
Lake Forest, IL (March 14, 2017) In 2000, the median overdraft was $18. A price less than $20 was not controversial then and it is not today. According to the Minneapolis Fed’s Inflation Calculator, the current price of an Overdraft today should be $25. According to a new Overdraft Study in January, 2017 by Moebs $ervices, an economic research firm, the median price of an overdraft (OD) is $30. “Matching the current price of $30 with the inflation adjusted price of $25 is a 20% more for a service that has not changed enough in value or cost to warrant this price,” says Michael Moebs, CEO & Economist of Moebs Services.
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Many Financial Institutions in Some Cities & States are Reducing OD Prices
Lake Forest, IL (March 7, 2017) In the past 6 months, 11.0% of all Depositories changed their Overdraft Price. “The National Overdraft Price has remained at $30 for the past 5 years, signaling a new trend may be emerging,” states Michael Moebs, Economist & CEO of Moebs $ervices who did a survey of over 3,800 financial institutions in January, 2017. “Although the National Price has remained constant, there are significant price changes taking place at many depositories. Of those who adjusted their price 34.9% decreased it, which is the largest amount decreasing their price in the past 5 years.”
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American Consumer Continues to Stockpile Money in Checking
(Lake Forest, IL June 24, 2016) Over 320 of the 385 Great Britain government bodies voted to leave the European Union (EU). Michael Moebs, Economist and CEO of Moebs $ervices, said, “This is a general uprising in Great Britain by the common citizen. The average Brit did not want their electronic tea pot regulated by some EU bureaucrat in Brussels or Berlin. Isn’t this what the followers of Bernie Sanders and Donald Trump are saying when they don’t want Washington to regulate what electric light bulbs they can use?”
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LAKE FOREST, Ill—In battle for checking accounts, banks and credit unions are taking two very different strategies, according to one economist who believes that in the end consumers are coming out on top. Read More
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Credit Unions Hit All Time High in OD Revenue with Price Similar to Banks
Consumer Financial Protection Agency Poised to Give Banks Boost in OD Revenue
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Article written By E. Scott Reckard Dec 21, 2013
Wells Fargo branch manager Rita Murillo came to dread the phone calls.
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Even though credit union and bank balance sheets have improved since the financial crisis, loan growth has mostly stalled or has fallen at small....Read more
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U.S. consumers are overdrawing their checking accounts less frequently than at any time in the last 14 years, according to new survey data. American Banker: Sept. 2013...Read more
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U.S. regulators are stepping up scrutiny of overdraft fees charged by banks, a big revenue stream that is helping the industry lessen the hit caused by...Read more
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Americans are encountering a wide variation of overdraft charges on debit card purchases and ATM withdrawals because of a patchwork of policies at....Read more...
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