Checking Accounts

News & Analysis as of

CFPB releases more overdraft program data as a prelude to likely rulemaking

The CFPB moved closer to likely rulemaking on overdraft programs with the release late last week of a new report entitled “Data Point: Checking account overdraft.” The report is based on account-level and...more

New York AG, Capital One Agree On Credit Screening Changes

New York Attorney General Eric T. Schneiderman recently announced an agreement with Capital One Financial Corporation that will require the bank to adopt new policies regarding the screening of consumers seeking to open...more

CFPB releases compliance costs report

The CFPB recently released a report on the operational costs of regulatory compliance. The 176-page report is entitled “Understanding the Effects of Certain Deposit Regulations on Financial Institutions’ Operations: Findings...more

Pew Report on Checking Account 'Best Practices' Draws Questionable Conclusions

The Pew Charitable Trusts has released a report on the safety and transparency of checking accounts. The study questions whether banks are sufficiently engaged in what Pew deems "best practices" and concludes that the...more

FDIC Supervisory Insights Focuses On Mobile Payments And High-Yield Checking

On December 17, the FDIC published the Winter 2012 issues of Supervisory Insights. The two featured articles focus on mobile payments and high-yield checking. In “Mobile Payments: An Evolving Landscape,” FDIC staff (i) review...more

Last Minute Gifting By Check

Time is running out for 2012 gift giving. End of year gifting by check is always an issue for those trying to use their annual exclusion amounts, but in 2012 the issue also relates to those attempting to make larger gifts to...more

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