In August 2010, the Federal Reserve Board directed banks to seek customer approval before enrolling them in high-cost overdraft coverage. Now nearly a year later, a new survey by the Center for Responsible Lending finds there are still lingering consumer misperceptions as to what consumers believe they were actually signing up for. Among consumers who opted in to overdraft, 64 percent thought they were getting coverage to avoid bounced checks even though overdraft only affects debit card and ATM transactions.