CFPB report raises concerns on overdraft fees

``Roughly 60 percent of bank revenue from consumer checking accounts was attributed to overdraft fees, according to the CFPB report. One industry vendor that responded to the bureau's request for more information said community banks relied on overdraft penalties for nearly 80 percent of their checking account revenues. Banking regulators have issued overdraft fee rules in the past, and Cordray said the purpose of the study was to help the agencies better supervise the practice.''