Pew

Overdraft: Against the Flow of Financial Inclusion and Economic Recovery Efforts

Written by Dory Rand on July 17, 2014 - 1:51pm

The report makes it clear that overdraft products are one of the reasons that people do not participate in the mainstream financial system and often end up paying more for financial transactions at alternative, non-bank financial services providers. We know from the Federal Deposit Insurance Corporation (FDIC)’s 2011 survey that half of the over 10 million unbanked households in America were formerly banked.

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