Original Article on Forbes

The Consumer Financial Protection Bureau's new focus on overdraft fees will cause banks to strengthen their most profitable customer relationships, while cutting loose consumers that continue to drain the bottom line, according to industry analysts. "It costs between $100 and $120 a year to maintain a checking account for your customer," says FBR analyst Paul Miller. " guess is they will go back to the old days, and these guys are not going to provide free products. They will either push you out the door, or find a way to charge you." The Consumer Financial Protection Bureau, or CFPB, on Wednesday announced that it had "launched an inquiry into checking account overdraft programs to determine how these practices are impacting consumers," wi...(read more)