Browsing: Overdraft protection

Compliance and Risk ABA opposes overdraft bill ahead of committee markup

Ahead of a markup scheduled to begin tomorrow in the House Financial Services Committee, ABA sent a memo to lawmakers expressing opposition for H.R. 4277, the Overdraft Protection Act. Sponsored by Rep. Carolyn Maloney (D-N.Y.), the bill would amend the Truth in Lending Act to make changes to existing overdraft rules.

Compliance and Risk ABA urges Congress to reject bills restricting overdraft

In a statement submitted for the record ahead of a Senate Banking subcommittee hearing on overdraft Wednesday, the American Bankers Association emphasized the important role that overdraft protection plays as a source of liquidity for American consumers and urged lawmakers to reject any legislation that would restrict these offerings.

Newsbytes Nichols op-ed: CFPB is ‘regulator going rogue’

Shortly before CFPB Director Rohit Chopra began the first of two days of oversight hearings on Capitol Hill, ABA President and CEO Rob Nichols challenged Chopra’s controversial practices and “power grab” in a hard-hitting American Banker op-ed.

Compliance and Risk ABA, SBAs: CFPB RFI shows ‘deeply flawed conclusions’ on consumer financial markets  

The American Bankers Association and all 51 state bankers associations directly challenged the CFPB on a recent request for information regarding fees associated with financial products and services offered by banks and non-bank financial institutions, including overdraft fees, insufficient funds fees, credit card fees, remittance fees, prepaid account fees and mortgage fees, among others.

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