Fifty-eight percent of bankers would take action to reduce costs or increase revenue elsewhere even if exempt under a new regulatory proposal to restrict overdraft fees, according to a survey of nearly 500 financial executives released today.
In a survey by liquidity management fintech IntraFi, 44% of respondents said if the plan went into effect, they would lower overdraft fees to remain competitive with larger banks, while 35% said they would alter their policies, and 27% said they would raise fees on other banking services. These actions would occur despite the fact that banks with less than $10 billion of assets would be exempt from the Consumer Financial Protection Bureau's plan.

Source prnewswire