News & Analysis as of October 19, 2024

Consumer Financial Protection Bureau (CFPB)

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

CFPB Reminds Financial Institutions to Retain Records of Affirmative Consent for Overdraft Opt-in

Ballard Spahr LLP on 9/23/2024

On September 17, 2024, the CFPB issued Consumer Financial Protection Circular 2024-05 on improper overdraft practices. The circular reminded financial institutions of their obligation to retain records that prove the consumer...more

CFPB Releases New Circular on Opt-In Requirements for Overdraft Services

Troutman Pepper on 9/19/2024

On September 17, the Consumer Financial Protection Bureau (CFPB or Bureau) published Circular 2024-05 (Circular) addressing whether a financial institution violates the Electronic Fund Transfer Act (EFTA) and Regulation E by...more

CFPB Publishes Overdraft Fee Guidance

Brownstein Hyatt Farber Schreck on 9/19/2024

On Sept. 17, the Consumer Financial Protection Bureau (CFPB) published guidance for federal and state consumer protection enforcement officials to use to prevent banks and credit unions from charging overdraft fees in certain...more

Current Developments in Bank Deposits and Payment Systems (Spring 2019)

Hudson Cook, LLP on 6/10/2019

This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more

FinTech Flash: So You Want to Put a Bitcoin ATM in a Coffee Shop?

Goodwin on 3/28/2018

This writer received three cold emails in two weeks asking for legal help around operating a Bitcoin ATM (BTM). Each groundbreaker asked: “What are the legal requirements for an operator putting a BTM in, say, a coffee shop?”...more

Overdraft Service Program Costs Bank $10M in CFPB Fine

Manatt, Phelps & Phillips, LLP on 8/25/2016

Overdraft services practices were the basis for a $10 million fine from the Bureau of Consumer Financial Protection (CFPB) in a recent action against a national bank operating primarily in the northeast....more

CFPB Week in Review

Stinson - Corporate & Securities Law Blog on 7/25/2016

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank - ...more

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