Data from the federal government estimates that U.S. banks will collect more than $38 billion in fees this year from consumers who overdraw their checking accounts. Banks will collect billions more from other account penalties, including credit card late fees. Moebs Services, which collected the information, reports that the average overdraft fee has risen to $27.50 this year, up from $25 last year. A 2008 study from the Federal Deposit Insurance Corp. found that insufficient funds and overdraft fees account for 74 percent of consumer bank service charges.
