On August 4, 2017, the Consumer Financial Protection Bureau released four “prototype” model overdraft disclosure forms styled under its “Know Before You Owe” initiatives with a press release. The CFPB said the forms were designed to clarify the risks and costs of overdraft coverage for consumers. The press release and forms were accompanied by a report entitled Data Point: Frequent Overdrafters, highlighting the habits of the small group of consumers who initiated the most overdrafts per year.

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