News & Analysis as of

Comment Period Overdraft Fees

Cadwalader, Wickersham & Taft LLP

CFPB Again Seeks Demise of Overdraft or NSF Fees, Part 1

In January 2024, the Consumer Financial Protection Bureau ("CFPB") issued two proposed rules that, if implemented as written, would result in further whittling down overdraft or non-sufficient funds ("NSF") fees charged by...more

Latham & Watkins LLP

CFPB Proposes to Prohibit Non-Sufficient Funds Fees on Declined Transactions

Latham & Watkins LLP on

As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions. On January 24, 2024, the Consumer Financial...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2024

OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more

Troutman Pepper

New Year Same Focus on Fees: CFPB Proposes to Amend Regulation Z to Raise New Barriers to Overdraft Charges

Troutman Pepper on

On January 17, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to amend exemptions to Regulation Z so the Truth in Lending Act (TILA)/Regulation Z would apply...more

Hudson Cook, LLP

CFPB Bites of the Month - June 2023 - A New Definition of Summer Madness

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the June 2023 webinar. Bite 12: CFPB Focusing on Overdraft Issues - On May 18, 2023, the CFPB announced that it had issued a...more

Brownstein Hyatt Farber Schreck

CFPB Director’s Testimony Provides Glimpses into Overdraft Protection Plans

On Capitol Hill this week during Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra’s testimony for the Semi-Annual Report, members of Congress touched on several hot button issues impacting financial service...more

Ballard Spahr LLP

CFPB issues plan for review of rules and launches review of overdraft rule

Ballard Spahr LLP on

The CFPB has issued a plan for the periodic review of its rules that have a significant economic impact upon a substantial number of small business entities.  It also announced that it was launching the first such review,...more

Ballard Spahr LLP

CFPB to seek OMB approval for testing of overdraft disclosures

Ballard Spahr LLP on

The CFPB has published a notice in the Federal Register announcing that it plans to seek OMB approval to conduct online testing of ATM/overdraft disclosures with 8,000 individuals. Comments are due on or before January 16,...more

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