Improper overdraft fees and prohibited kickbacks were just two of many concerns identified by the Federal Deposit Insurance Corporation (FDIC) in its first-ever publication of “Consumer Compliance Supervisory...more
Focusing on overdrafts, the Consumer Financial Protection Bureau (CFPB) released a new report as well as prototypes of “Know Before You Owe” disclosures for banks and credit unions offering overdraft protection....more
Courts in California delivered some important banking developments in two recent decisions, with a federal court finding a charge for failing to replenish an overdrawn account constituted interest while the state's highest...more
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
8/25/2016
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CFPB Fines Bank $7.5M for Overdraft Violations, With $49M More in Redress -
Why it matters:
In its first action targeting overdraft fees, the Consumer Financial Protection Bureau (CFPB) fined Regions Bank $7.5...more