CU2.0 Podcast Episode 135 Joel Schwartz DoubleCheck and NSF Fees

Overdraft fees are big business for most financial institutions and it’s estimated that 20% of credit union members, one in five, have an NSF annually.

The worse news is that the credit union’s NSF fee is just the start of the consumer’s pain.  Joel Schwartz, founder and co-CEO of DoubleCheck, a Los Angeles company with an innovative spin on how to best handle NSFs, estimates that the NSF can lead to perhaps $175 in ripple charges such as a returned item fee imposed by the payee of the bounced check.