News & Analysis as of

Banks Opt-In

K&L Gates LLP

HUB Talks: The Impact of Overdraft Fees on Banks and Consumers

K&L Gates LLP on

In this episode, Judie Rinearson and John ReVeal discuss class action litigation and regulatory enforcement concerns arising from overdraft fee disclosures and practices. John also shares his insight about possible...more

BCLP

Survey of Bank and Financial Service Companies' Privacy Practices

BCLP on

To help identify trends in privacy representations, BCLP reviewed the websites and privacy notices of Fortune 500 companies identified as primarily engaged in the banking and financial service sectors. The following...more

Vedder Price

FDIC Finalizes Rule to Simplify Capital Calculations for Community Banks

Vedder Price on

On September 17, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) passed a final rule providing qualifying community banking organizations the ability to opt-in to a new community bank leverage ratio (“CBLR”)...more

Faegre Drinker Biddle & Reath LLP

Overdraft Protection Developments: Citing New Study, CFPB Issues Prototype Overdraft Disclosures

On August 4, 2017, the Consumer Financial Protection Bureau (CFPB) unveiled four prototype overdraft disclosure forms currently being tested to replace the existing model form. The CFPB developed the prototype forms based on...more

BakerHostetler

CFPB Unveils Disclosure Forms in Response to Overutilization of Overdraft Fees

BakerHostetler on

On Aug. 4, the Consumer Financial Protection Bureau (CFPB) released the results of its study into frequent overdrafters and four overdraft disclosure model forms as part of its Know Before You Owe initiative. The CFPB...more

Morrison & Foerster LLP

Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Sues Bank Over Overdraft Sales Pitch

The CFPB’s concern with incentives and overdrafts continues and has resulted in a lawsuit filed against a Minnesota based TCF National Bank. In the lawsuit, the CFPB alleges that TCF National Bank violated the UDAAP...more

Manatt, Phelps & Phillips, LLP

Overdraft Service Program Costs Bank $10M in CFPB Fine

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

Ballard Spahr LLP

Rep. Maloney urges CFPB to limit overdraft fees and expand opt-in rules

Ballard Spahr LLP on

Democratic Congresswoman Carolyn Maloney of New York sent a letter to Director Cordray yesterday urging the CFPB to limit overdraft fees and expand opt-in requirements as part of a proposed overdraft rule. In calling...more

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