FinCap Friday: Protection or Deception?

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Sep 24, 2020
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FinCap Friday

This week's episode dives into the topic of overdraft fees and how banks have been using shady practices in order to collect overdraft fees one way or another. About 30% of Americans with checking accounts pay overdraft fees and over the past few years the average fee for overdrawing your account has been steadily increasing. A recent incident with a major bank being responsible for paying a hefty penalty to the CFPB for breaking the rules with overdraft fees has brought this topic into the limelight again. But what exactly are overdraft fees, anyway? And why do banks want to keep them around so badly? Find out about that and more in this week's FinCap Friday: 

If you're short on time, try our simplified FinCap Friday (No Tech) with the questions embedded right into the slide deck! For the EdPuzzle version, click here

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Check out all of our FinCap Friday episodes here. They're not date-dependent so any of the 70+ in our catalog dating back to August 2018 can work throughout this school year!

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her soon-to-be 7 nieces and nephews!