Customers Confused About Bank Overdraft Fees

In August 2010, the Federal Reserve issued new rules requiring customers to consent to overdraft coverage on their debit and ATM cards. But, according to a survey commissioned by the Pew Charitable Trusts, most people who were charged fees did not know they were enrolled in an overdraft program. The survey found that young cardholders and those with an income less than $30,000 were twice as likely to be charged fees as those who were older and wealthier.

According to Pew, the median overdraft fee is $35.