Checking Account Risks at a Glance

111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK 111 THE MEDIAN THE NUMBER NUMBER OF PAGES OF PAGES IN PEW'S MODEL OF DISCLOSURE FOR A CHECKING ACCOUNT DISCLOSURE BOx ...... 2x CHECKING ACCOUNT DISCLOSURES ARE GENERALLY TWICE AS LONG AS ROMEO AND JULIET THE NUMBER OF $36 DIFFERENT NAMES USED BY THE TEN LARGEST 7 BANKS TO DESCRIBE THEIR THE MEDIAN OVERDRAFT PENALTY FEE– TRANSACTION AMOUNT "OVERDRAFT ITEM FEE," "INSUFFICIENT FUNDS FEE," "OVERDRAFT FEE," "OVERDRAFT ITEM PAID FEE," "RETURNED/ PAID ITEM FEE," "UNAVAILABLE FUNDS PENALTY," "UNAVAILABLE FUNDS FEE" THAT CAUSES A CONSUMER TO OVERDRAFT, ACCORDING TO THE FDIC -WHICH MAKES IT DIFFICULT FOR THE MEDIAN CONSUMERS TO MAKE COMPARISONS. ...... ............... $10 OVERDRAFT TRANSFER CHARGE 5,0 $35 THE MEDIAN OVERDRAFT PENALTY FEE ....... IF AN OVERDRAFT WAS TREATED LIKE A SHORT-TERM LOAN WITH A REPAYMENT PERIOD OF SEVEN DAYS, THEN THE ANNUAL PERCENTAGE RATE FOR A TYPICAL INCIDENCE WOULD BE OVER 5,000 PERCENT .. ....... $$$$$$$$ $$$$$$$ $$$$$$$$ $$$$$$$$ NUMBER OF 49 Per Day $140 THE MEDIAN DIFFERENT FEES THAT A CUSTOMER THE MEDIAN AMOUNT COULD BE CHARGED WHILE USING HIS A CUSTOMER CAN BE CHARGED PER DAY IN OVERDRAFT FEES OR HER CHECKING $$$$$$$$ ACCOUNT $38 .... THE AMOUNT AMERICANS ARE ESTIMATED TO SPEND ON OVERDRAFT FEES IN 2011, BILLION WHICH WOULD BE AN ALL TIME HIGH, ACCORDING TO MOEBS SERVICES BANKS ONLY BUT BANKS DEPOSIT FUNDS FIVE DAYS WITHDRAW FUNDS SEVEN DAYS A WEEK A WEEK