Overdraft prices fall, but policy debate grinds on; a primer on banks and inflation

Average overdraft price hits 19-year low: Survey. Bank customers who overdraw their accounts now face an average fee of $26.61, which is down from a peak of $33.58 in 2021. Consumer advocates contend that tougher regulations are needed to sustain the momentum, while industry groups argue that bank-led innovations are working.

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The ABCs of how inflation hurts bank profits: When the prices of U.S. goods and services soar, the Federal Reserve tends to raise its benchmark interest rate, and commercial banks are pinched in several fundamental parts of their business.

Administration urges Supreme Court not to hear state preemption cases: Two related cases the Supreme Court is considering hing on whether state laws preempt the National Banking Act on the payment of interest on mortgage escrow accounts.

Banks and credit unions assess Hurricane Idalia damage: Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

Top credit union to work for offers endless time off, fully remote work: Southwest Financial Credit Union, which led American Banker's Best Credit Unions to Work For, says employees are taking up to 400 hours more off than before its unlimited PTO policy took effect — but they are happier, and so are the members of the branchless credit union.

Bankers: Tell us how your bank is working with small businesses. American Banker is conducting a survey right now and we’d love your insights.?You can contribute to the survey here.?