“There are still a large number of small banks and many credit unions that have not changed their credit policies, including a handful who have become addicted to overdraft,” said Aaron Klein, a senior fellow in economic studies at the Brookings Institution.
Banks preparing to take on Biden administration over billions in overdraft fees
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“I’m at a loss for words to understand how this business model was deemed acceptable by their regulators," said Aaron Klein, a congressional aide who worked on the Dodd-Frank banking regulation law that was passed after the 2008 financial crisis.
Fed criticized for missing red flags before bank collapse
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