12-10-2019  5:04 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

San Francisco Aims to Rein in Tests of Tech Ideas on Streets

Entrepreneurs would not be allowed to test their products in San Francisco's public space unless the tech in question is declared a "net public good."

Portland-area Residents May Vote on Funding for Homeless

There may be a measure on the November 2020 ballot to fund likely hundreds of millions of dollars for increased social services

Black Food Professionals See Opportunities to “Scale Up” in School Cafeterias and on Store Shelves

Two Portland women are addressing disparities in the local food scene with Ethiopian and Haitian flavors, ingredients

Portland Fire Chief Sara Boone Climbing Historic Ladders

In 1995, Boone was the first African American woman hired by Portland Fire & Rescue; this year she became its first African American Chief

NEWS BRIEFS

EPA Approves Funding for Oregon and Washington to Improve Drinking Water, Wastewater Infrastructure

States estimate $190 million for wastewater, $35 million for drinking water projects in Oregon, and $120 million for...

Conservation Breakthrough for Endangered Butterfly

The Oregon Zoo's breeding success provides new hope in an effort to save Oregon silverspots ...

Meet 80 Local Authors at OHS 52nd Holiday Cheer Book Sale and Signing

This free Oregon Historical Society event will be held this Sunday, December 8 from 12 p.m. – 4 p.m. ...

Need for Blood Doesn’t Stop for Holidays – Donors Needed

Those who come to give through Dec. 18 will receive a Amazon.com Gift Card ...

North Carolina Court Decision Upholds Removal of Confederate Monument

Lawyers argued that the monument was installed at the end of Reconstruction to further the false “Lost Cause” narrative,...

Man gets jail, probation for strangling 85-year-old mom

PORTLAND, Ore. (AP) — A Portland man who violated a no-contact order and strangled his 85-year-old mother has been sentenced to six months in jail and two years of probation. The Multnomah County District Attorney's Office said 57-year-old James Keith was sentenced Tuesday. Keith assaulted...

M lawsuit claims meningococcal diagnosis delayed

PORTLAND, Ore. (AP) — An Oregon State University student who visited Portland-area medical providers amid a 2017 meningococcal outbreak at her Corvallis campus — but was not immediately diagnosed with the disease — has sued for million.The Oregonian/OregonLive reports then...

New Missouri coach Eli Drinkwitz predicts success

COLUMBIA, Mo. (AP) — Eli Drinkwitz was saying all the right things after being introduced as the new football coach at Missouri, laying out his vision for the once-proud program with unwavering confidence and bold proclamations.Then the former Appalachian State coach made a minor...

LSU's Burrow, Auburn's Brown named AP SEC players of year

LSU quarterback Joe Burrow is a unanimous selection as the offensive player of the year on The Associated Press All-Southeastern Conference football team.The top-ranked Tigers also have the SEC’s coach of the year in Ed Orgeron and the newcomer of the year in freshman cornerback Derek...

OPINION

Will You Answer the Call for Moral Revival?

In embracing and expanding the legacy of Dr. Martin Luther King, Jr., Revs. Barber and Theoharis have asked Presidential candidates to consider a debate that focuses exclusively on poverty ...

What I’m Thankful For This Season

Ray Curry gives thanks for a human right that shaped our country throughout the 20th century and that made Thanksgiving possible for so many Americans who, like him, didn’t get here by way of the Mayflower ...

Congressional Black Caucus Members Visit U.S.-Mexico Border: “Mistreatment of Black Immigrants is Another ‘Stain on America’”

Members said they witnessed first-hand the deplorable treatment and plight of Black immigrants ...

Portland, I'm Ready

Last month I had the privilege to stand with hundreds of supporters and announce my intention to run for re-election ...

AFRICAN AMERICANS IN THE NEWS

Trump to sign order targeting anti-Semitism at colleges

WASHINGTON (AP) — President Donald Trump will sign an executive order on Wednesday targeting antisemitism on college campuses, the White House said.The order, which is likely to draw criticism from free speech advocates, will broaden the federal government's definition of antisemitism and...

In South Carolina, Steyer investing in black voters

COLUMBIA, S.C. (AP) — In the waning weeks before South Carolina's presidential primary, Democrat Tom Steyer is renewing his focus on the black voters who play a pivotal role in the first-in-the-South state, rolling out a proposal to improve historically black colleges and institutions.The...

Multistate voter database suspended in lawsuit settlement

WICHITA, Kan. (AP) — A much-criticized database that checks whether voters are registered in multiple states has been suspended “for the foreseeable future” until security safeguards are put in place as part of a settlement of a federal lawsuit, a civil rights group said...

ENTERTAINMENT

Netflix says more than 26M watched 'The Irishman' in 7 days

NEW YORK (AP) — Netflix says that 26.4 million households worldwide watched “The Irishman” in its first week of streaming. That figure includes those who watched at least 70% of Martin Scorsese's 3 1/2 hour crime epic. Netflix selectively announces viewership for its films and...

NFL, NCAA football fuel Fox TV's win of the prime-time week

LOS ANGELES (AP) — Fueled by both college and pro football, Fox won a rare title as champ of the broadcast week among networks. Fox's Thursday night NFL airing of the Dallas Cowboys and Chicago Bears was the week's top show of any kind with 18.23 million viewers, and its broadcast of the Big...

The Associated Press picks the top moments on TV from 2019

NEW YORK (AP) — Many have noticed how fragmented our TV viewing is, with multiple competing streaming services and dozens of channels pulling us in different directions. But the year also saw some jaw-dropping moments that found huge audiences, whether it was a royal interview or a viral...

U.S. & WORLD NEWS

Adam Sandler on plunging into the Safdies' 'Uncut Gems'

TORONTO (AP) — Adam Sandler was waiting to be thrown into a midtown fountain on Sixth Avenue for a scene in...

Newspaper criticizes film's take on Olympic bombing coverage

ATLANTA (AP) — After a bomb exploded in a downtown Atlanta park midway through the 1996 Olympics, a...

Thousands rally around Holocaust survivor in Milan

MILAN (AP) — A Holocaust survivor who has been put under police protection due to anti-Semitic threats was...

In Mexico, effeminate Zapata painting draws fury

MEXICO CITY (AP) — A painting showing Mexican Revolution hero Emiliano Zapata nude and in an effeminate...

Parisians dodge strikes by logging on to share rides, bikes

ARGENTEUIL, France (AP) — Adrien Lachevre and Nailat Msoili live a few kilometers (miles) apart in Paris'...

Thousands rally around Holocaust survivor in Milan

MILAN (AP) — A Holocaust survivor who has been put under police protection due to anti-Semitic threats was...

McMenamins
Blake Ellis CNN Money

NEW YORK (CNNMoney) -- Checking account customers are racking up hundreds of dollars in overdraft fees each year, a new government report finds.

On average, overdrawing an account costs customers $225 in fees per year, according to a new study from the Consumer Financial Protection Bureau.

Overdraft fees are sparked when a customer overdraws their checking account by making a purchase with their debit card and the bank covers the transaction instead of denying it, while non-sufficient fund (NSF) fees kick in when a check or automatic payment overdraws the account.

Depending on the bank, the average amount spent on these fees can be as low as $147 per year and can go all the way up to $298. And banks aren't complaining, with overdraft and non-sufficient fund fees making up 60% or more of consumer checking account fee revenue, the CFPB estimated.

As a result of a 2010 Federal Reserve rule aimed at improving the transparency of overdraft programs, banks are required to automatically opt customers out of overdraft protection unless they voluntarily opt in to the program. At certain banks, opt-in rates are as high as 40%, while others have rates of 10% or lower.

Yet, policies still vary widely from bank to bank -- often making it hard to understand the risks and costs associated with an overdraft program. Some banks limit the number of overdraft fees a customer can incur in one day to two while some allow as many as 12; some won't charge fees if an account was overdrawn by less than $5 while some charge fees on every transaction; and some order transactions in a way that maximizes overdraft fees while others minimize fees. The limits on the amount of money that overdraft protection will cover can also vary.

Customers who opt in typically do so because they would rather pay an overdraft fee than risk having a crucial payment -- like rent -- or an emergency transaction denied by the bank. But these customers often end up paying a lot more than one fee as it becomes harder to get back on track with bills or payments.

While one in five checking account customers overdraw their account, many are often repeat offenders -- spending far more than the average overdrafter.

They are also more likely to have an account closed for bad behavior. At some banks in the study, involuntary bank account closure rates were more than twice as high for customers who enrolled in overdraft services.

After the federal opt-in requirement took effect in 2010, chronic overdrafters that decided not to opt in to overdraft protection saved an average of more than $450 in fees during the first six months.

The CFPB said it is assessing the costs and risks that overdraft services pose to consumers and is still determining what its next step will be.

"Consumers need to be able to anticipate and avoid unnecessary fees on their checking accounts," CFPB Director Richard Cordray said in a statement. "But we are concerned that some overdraft practices may increase consumer costs beyond reasonable expectations."

 

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