Halperin Statement: Maloney Press Conference on "Billion Dollar Deal"
Good morning, I'm Eric Halperin, director of the Center for Responsible Lending's Washington office. I appreciate Congresswoman Maloney's invitation to join her this morning as CRL releases new findings in our ongoing investigation of overdraft lending. Our new report, " Billion Dollar Deal," finds that abusive overdraft loans are draining the checking accounts of young adults to the tune of nearly $1 billion per year. Colleges and universities are contributing to this problem by making deals that give a single bank exclusive access to their students without insisting on protections that