Analysis: Credit card, overdraft limits to cost banks $5 billion

05/19/2010 | USA Today

Credit card companies and retail banks will lose $5 billion or more this year as new restrictions on credit card and overdraft fees come into effect, according to a USA TODAY analysis. Other analyses, including one by R.K. Hammer Investment Bankers, put the losses significantly higher. Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable, said the changes could be higher than estimated by banks because they "don't take into account the loss of services and credit that would be available."

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