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Journal Article
Billion-dollar overdrafts: a payments risk challenge

Business Review , Issue Jan/Feb , Pages 3-13

Journal Article
Intraday credit: risk, value, and pricing

An abstract for this article is not available
Economic Review , Volume 73 , Issue Jan , Pages 3-14

Journal Article
Daylight overdraft fees and the Federal Reserve's payment system risk policy

Federal Reserve Bulletin , Issue Dec

Working Paper
Recurrent overdrafts: a deliberate decision by some prepaid cardholders?

Overdrafts have been an ongoing concern of policymakers, and they are one of the main issues being considered for prepaid card rules that the Consumer Financial Protection Bureau (CFPB) is currently drafting. Despite regulatory interventions and heated debate between proponents and opponents of further intervention, little research has been conducted to understand the overdraft behavior of prepaid cardholders. This paper attempts to fill that gap by analyzing a large micro-level dataset of general purpose reloadable (GPR) prepaid cardholders. We find that a small percentage of GPR prepaid ...
Research Working Paper , Paper RWP 14-8

Discussion Paper
Consumer testing informs policy: overdraft regulation as a case study

In November 2009, the Board of Governors of the Federal Reserve System issued regulations that protect consumers from being charged certain fees when, under a discretionary overdraft service, financial institutions pay transactions from a deposit account that contains insufficient funds. Under the regulations, consumers must receive notices that explain any discretionary overdraft services offered to them by their bank. In addition, consumers may not be charged overdraft fees for ATM or one-time debit transactions unless they have opted in to this service. During the rulemaking process, the ...
Consumer Finance Institute discussion papers , Paper 10-03

Journal Article
Data on daylight overdrafts

Federal Reserve Bulletin , Issue Mar

Journal Article
Interim statement on reducing risks on large-dollar transfer systems effective July 30, 1987

Federal Reserve Bulletin , Issue Sep

Working Paper
Limited and varying consumer attention: evidence from shocks to the salience of bank overdraft fees

The authors explore dynamics of limited attention in the $35 billion market for checking overdrafts, using survey content as shocks to the salience of overdraft fees. Conditional on selection into surveys, individuals who face overdraft-related questions are less likely to incur a fee in the survey month. Taking multiple overdraft surveys builds a "stock" of attention that reduces overdrafts for up to two years. The effects are significant among consumers with lower education and financial literacy. Consumers avoid overdrafts not by increasing balances but by making fewer debit transactions ...
Working Papers , Paper 11-17

Journal Article
Billion-dollar overdrafts: a payments risk challenge

Special issue on payments system risk
Financial Industry Perspectives


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