An Update: Competition Drives Overdraft Disruption

Updated Analysis

Last year, Curinos evaluated the state of the overdraft market in the U.S. Since then, many financial institutions have announced program changes aimed at reducing the impact of overdraft on consumers. Curinos has tracked these changes and is pleased to present updated findings that reflect the impact of implemented and pledged reforms of overdraft practices.
Key findings from the updated analysis include:
  • Based on the voluntary changes that have been announced as of Aug. 25, 2002, overdraft fees are expected to fall by 68% between 2008 and the end of 2023.
  • These changes are expected to result in $167 in annual savings per U.S. adult by year end 2023.
  • As of August 2022, at least 29 financial institutions with more than $10B in assets have announced significant reforms to their overdraft policies. Half of FIs above $100B, including 9 of 13 FIs above $250B, have announced or implemented overdraft reforms.
  • Curinos projects institutions with pledged and adopted reforms will reduce overdraft fees by 50% in the period 2019 to 2023. If current trends continue, consumers could save more than $28B in the five-year period between 2021 to 2025.
  • Overdraft revenue comprises less than 2% of annual industry revenue and less than 4% of industry net income.
You can find our December 2021 study, Competition Drives Overdraft Disruption, here. For more information on Curinos research, please contact Director Hank Israel at

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