The Collaborative International Dictionary of English v.0.48:

Overdraw \O`ver*draw"\, v. t. [imp. Overdrew; p. p.
   Overdrawn; p. pr. & vb. n. Overdrawing.]
   1. To exaggerate; to overdo.
      [1913 Webster]

   2. (Banking) To make drafts upon or against, in excess of the
      proper amount or limit; to draw more than the balance in
      one's account.
      [1913 Webster +PJC]