From USA Today:

Bair said that any major restriction to bank policies “needs to be done very carefully, given the state of the industry.”

She supports regulation to require banks to get consumers’ permission to approve transactions that overdraw their accounts and charge a fee. She also believes overdraft coverage should be treated as a loan, which would require banks to calculate and disclose the average APR to consumers. In the past, banking regulators have said that overdraft coverage is a credit product, but have stopped short of regulating it as a loan.