The future of bank overdraft fees
Bank overdraft fees have been on the rise for many years as income volatility increases and more Americans live paycheck to paycheck. Federal bank regulators have done little to help U.S. families, failing to speed up the U.S. payments system to address one of the many root causes of overdrafts (slow filing times) while by giving the green light to banks that choose to increase their profits to the detriment of them. living on the financial edge. A few banks and fintech companies are taking a different path, creating new products designed to help consumers avoid overdrafts, tackling the problem of why it is so expensive to be poor.
Join Brookings as we engage in an in-depth conversation with these banks, fintech companies and consumer advocates to explore alternatives to overdraft. We will analyze whether new technologies and new products can meet people’s needs for financial flexibility in a more equitable and efficient manner. To facilitate this discussion, we’ll be creating a new format to engage industry and consumer voices in this provocative conversation.
Viewers can submit questions to speakers by emailing [email protected] or via Twitter using #Overdraft.