ABA and four other trade groups representing banks and credit unions today called on the Consumer Financial Protection Bureau to release and accept comments on a draft survey as part of its proposed study of overdraft protection services. The bureau said it planned to conduct a survey of 8,000 individuals but did not release the draft survey with its proposal as federal guidance requires. For more information, contact ABA’s Jonathan Thessin.
Consumer credit increased 1.2% in May
Consumer credit increased at a seasonally adjusted annual rate of 1.2% in May, the Federal Reserve reported.