SPOTLIGHT ON FINANCIAL SERVICES | The Consumer Financial Protection Bureau (#CFPB) has proposed a new rule designed to eliminate “junk fees” on real-time declined transactions because of insufficient funds. This includes declined debit card purchases, ATM withdrawals and some peer-to-peer payments.
Here, Richik Sarkar, a #banking and financial services litigator in Dinsmore’s #Cleveland office, explains the proposed rule and why financial institutions should prepare for the change by potentially See more +
SPOTLIGHT ON FINANCIAL SERVICES | The Consumer Financial Protection Bureau (#CFPB) has proposed a new rule designed to eliminate “junk fees” on real-time declined transactions because of insufficient funds. This includes declined debit card purchases, ATM withdrawals and some peer-to-peer payments.
Here, Richik Sarkar, a #banking and financial services litigator in Dinsmore’s #Cleveland office, explains the proposed rule and why financial institutions should prepare for the change by potentially revising their fee strategies. See less -
