Only 7.7% of checking account holders have more than 10 overdraft fees a year, according to the Consumer Financial Protection Bureau, but banks are concerned that the small percentage could lead to more regulations by the agency. "We're slightly concerned that the CFPB could take a direction that would force folks to stop offering overdraft," says David R. Pommerehn, CBA senior counsel and assistant vice president. He said too many regulations may direct consumers to rely more heavily on unregulated payday loans.

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