National bank regulator, the OCC, must stop this trend before it takes off among more national banks, making millions vulnerable to predatory loans even in states that don't allow it from payday lending stores

The OCC has acknowledged problems with bank overdraft systems but has allowed the banks they regulate to use them.

Credit CARD Act of 2009 – what law does and does not cover

New CRL credit card research identifies hidden and deceptive credit card issuer tricks and traps continue, even after the passage of the Credit CARD Act of 2009 and pending Federal reserve rules. The Dodging Reform report explains why American borrowers continue to experience arbitrary, unfair interest rate hikes and fees through examining issuer practices. These practices manipulate interest rates, pad miscellaneous fees, and include deceptive policies on penalty late payment fees. The federal legislation stopped some of the worst abuses in the industry, but a strong consumer-focused regulator like the CFPA would provide common-sense rules on credit cards and could respond to abuses as they surface.

Julia Gordon, CRL Sr. Policy Counsel, testifies before the House Financial Services Committee on why we need a stronger, multi-pronged approach to stopping the mortgage foreclosure epidemic

The Federal Reserve is considering rules to restrict mortgage brokers and lenders from giving borrowers loans with higher interest rates than necessary and earning "yield-spread premium" kickbacks in exchange.

Mortgage companies have blocked sensible actions to stop foreclosures, promising to fix the problem themselves – but they’re not delivering. The latest MBA figures show that the proportion of struggling homeowners continues to climb.

Debit cards were once a safe alternative to the convenience of credit cards, with the advantage that you could not get into trouble with debt. Now they are dangerous, often triggering bank overdraft fees unexpectedly.

Congresswoman Carolyn Maloney proposed the Overdraft Protection Act of 2009, which would reform out-of-control bank and credit union overdraft practices. Fees for debit card transactions and other types of overdrafts have reached well over $20 billion per year.

Eric Halperin, director of CRL's DC office, submitted testimony to the Financial Services Committee of the U.S. House on H.R. 3904, the Overdraft Protection Act of 2009. He called the Act a crucial measure for protecting consumers from abusive bank overdraft fees, which have reached $23.7 billion per year. The Federal Reserve Board has failed to address the problem, and reform is urgently needed.