Search Results
Discussion Paper
Hold the Check: Overdrafts, Fee Caps, and Financial Inclusion
The 25 percent of low-income Americans without a checking account operate in a separate but unequal financial world. Instead of paying for things with cheap, convenient debit cards and checks, they get by with “fringe” payment providers like check cashers, money transfer, and other alternatives. Costly overdrafts rank high among reasons why households “bounce out” of the banking system and some observers have advocated capping overdraft fees to promote inclusion. Our recent paper finds unintended (if predictable) effects of overdraft fee caps. Studying a case where fee caps were ...
Working Paper
Pricing daylight overdrafts
An examination of three policy problems associated with daylight credit and an evaluation of three reform proposals to alleviate the payment system risk associated with Federal Reserve Banks' extension of daylight credit to financial institutions.
Journal Article
Comment sought for charging fees on all daylight overdrafts
Journal Article
Daylight overdrafts and payments system risk
Journal Article
New rules aim to clarify overdraft information
New amendments to Regulation DD address how banks inform their customers about bounced-check protection services.
Journal Article
Data on daylight overdrafts
Journal Article
Payment system risk issues
A discussion of international, domestic, pricing, and operational aspects of electronic payment system risk, with a description of proposals for managing the risk and for reducing Federal Reserve exposure.
Journal Article
Would banks buy daytime fed funds?