Browsing: Overdraft protection

Compliance and Risk

Responding to a statutorily required review of the CFPB’s 2009 overdraft rule today, the American Bankers Association noted in a comment letter that the “opt-in” rule has empowered customers to make informed choices about seeking or declining overdraft protection services for debit card point-of-sale or ATM transactions.  

Compliance and Risk

In response to the FDIC’s recently announced initiative to streamline its Financial Institution Letters and other communications, the American Bankers Association in a comment letter on Wednesday urged the FDIC to withdraw its supervisory expectations with respect to bank overdraft payment programs and to rescind its 2013 guidance on deposit advance programs.

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