CFPB Uses Bully Pulpit on Overdraft, Checking Account Screening
The Consumer Financial Protection Bureau today announced several actions and statements that it said would facilitate customer access to checking accounts.
Browsing: Overdraft protection
ABA Comments on the CFPB’s Request to Survey Consumers on Overdraft Disclosure Forms
ABA filed comments to the Consumer Financial Protection Bureau on its notice and request for comment regarding “Web-Based Quantitative Testing of Point of Sale/ATM (POS/ATM) Overdraft Disclosure Forms.”
Cordray Discusses Improvements in Payments System
Consumer Financial Protection Bureau Director Richard Cordray focused on payments in his remarks at a meeting with the Community Bank Advisory Council on Sept. 30 in Washington, D.C. Cordray said that the Bureau has identified four primary areas of concern regarding the payment system: transparency, security and access.
ABA, Groups: CFPB Overdraft Survey Plan Is Incomplete
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.
TBA Seeks Information from CFPB on Core Processor Queries
The Texas Bankers Association today filed a request under the Freedom of Information Act with the Consumer Financial Protection Bureau seeking any information it received from three large core processors about bank overdraft data.
ABA’s Abernathy Comments on Regulatory ‘Kudzu’
The Consumer Financial Protection Bureau’s reach is spreading and threatening to choke consumers’ access to small-dollar loans, ABA EVP Wayne Abernathy said in an opinion piece published in The Washington Times last week. “Much like planting kudzu in a rose garden, the unchecked spread of the consumer bureau threatens to smother when it tries to
Classes Certified Against Wells Fargo in Overdraft Litigation
A Miami district court certified two classes of plaintiffs alleging deceptive practices in processing debit card transactions
ABA: CFPB Information-Gathering Powers Must Be Reformed
ABA yesterday said that the Consumer Financial Protection Bureau’s expansive authority to gather information under Section 1022 of the Dodd-Frank Act must be changed.
CFPB Fines Regions $7.5M for Overdraft Program
The penalty against Regions is the first imposed by the CFPB related to overdraft fees.