Friday - March 14, 2025
Congressional Research Service Issues In Focus White Paper on Overdraft - Payment Service or Small-Dollar Credit?
March 06, 2025
WASHINGTON, March 6 (TNSrep) -- The Congressional Research Service issued the following In Focus white paper (No. IF11460) on March 4, 2025, by financial economics specialists Andrew P. Scott and Karl E. Schneider.

Here are excerpts:

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Overdraft: Payment Service or Small-Dollar Credit?

Funding Gaps in Consumer Finances

One of the earliest documented cases of bank overdraft dates back to 1728, when a Royal Bank of Scotland custo . . .

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