The Wenatchee World

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The latest extended forecast from The Weather Channel

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Hydrologic Outlook issued February 12 at 3:18PM PST until February 13 at 10:00AM PST by NWS

...WARM, RAINY, AND WINDY CONDITIONS WILL LEAD TO STREAM RISES... A MORE UNSETTLED WEATHER PATTERN ARRIVES THIS WEEKEND BRINGING RAINS AND WARM TEMPERATURES. MELTING MID AND LOW ELEVATION SNOW, IN COMBINATION WITH THE RAINS, WILL LEAD TO RISES ON MANY OF THE AREA`S STREAMS. MONDAY AND TUESDAY ARE FORECAST TO BRING EVEN WARMER TEMPERATURES...SOME NEAR RECORD HIGH TEMPERATURES...ALONG

Tonight

Lo33° Slight Chance Showers and Patchy Fog

Saturday

Hi44° Patchy Fog then Partly Sunny

Saturday Night

Lo35° Chance Rain

Sunday

Hi47° Slight Chance Rain

Sunday Night

Lo39° Slight Chance Rain

Washington's Birthday

Hi58° Partly Sunny

Monday Night

Lo41° Mostly Cloudy

Tuesday

Hi53° Cloudy

Tuesday Night

Lo39° Slight Chance Rain

Wednesday

Hi47° Chance Rain

Overdraft coverage? Great … if you’re the bank

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WASHINGTON — Overdraft protection often is a better deal for banks than for consumers, a new study by a federal watchdog agency reveals.

The report, being released today by the Consumer Financial Protection Bureau, found that consumers who sign up for banks’ optional overdraft coverage on debit card transactions and ATM withdrawals pay higher fees and are more likely to end up with involuntary account closures than those who decline.

Banks profit from consumers’ misfortune.

Fees for overdraft and nonsufficient funds accounted for more than 60 percent of banks’ total revenue from consumers’ checking accounts in 2011, according to the report.

Many financial institutions market their overdraft services as a protective measure that offers consumers greater peace of mind and security,” Richard Cordray, the bureau’s director, said Monday in a call with reporters.

They correctly note that consumers often benefit when overdraft transactions are paid, which helps avoid returned checks or declined transactions. But our study also raises questions. What is marketed as overdraft protection can in some instances put consumers at greater risk of harm.”

Cordray said the bureau plans to research overdraft programs further before taking any policy action.

Overdrafts occur when customers try to withdraw or spend more money than they have in their accounts. Banks can block the transaction and charge an “insufficient funds fee,” or allow the money to go through and charge an overdraft fee.