The CFPB's overdraft report released Tuesday contained some unflattering statistics related to credit union overdraft income.
According to the report, while bank and thrift service charges on deposit accounts have declined since 2008, credit union fee income has increased by 15%.
Because credit union fee income as reported to the NCUA includes several sources, the report said, defining how much comes from overdrafts and not-sufficient-funds charges is difficult.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
