Study says federal regulators allowing abusive lending, excessive overdraft fees from BailoutSleuth

The Office of the Comptroller of Currency is allowing banks to make abusive payday loans and collect an excessive amount in overdraft fees, the Center for Responsible Lending said in a pair of new reports. 

The growing prevalence of high fees for customers comes as the banks themselves have received more than $244 billion in relatively low-cost capital from taxpayers, through the Troubled Asset Relief Program.

One report highlights the prevalence of overdraft fees and criticizes the OCC, which regulates national banks, for not taking meaningful steps to address the problem. 

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