An In-Depth Analysis of the CFPB's Proposed Overdraft Rule — Payments Pros – The Payments Law Podcast
An In-Depth Analysis of the CFPB’s Proposed Overdraft Rule - The Consumer Finance Podcast
CFPB’s War on Junk Fees - The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: Performance-Based Regulation: A New Approach to Consumer Financial Regulation, with Guest Lauren Willis, Professor of Law LMU Loyola Law School
State Attorneys General Call on Financial Giants to Eliminate Overdraft Fees - Regulatory Oversight Podcast
State Attorneys General Call on Financial Giants to Eliminate Overdraft Fees - The Consumer Finance Podcast
Regulators Tackle Board Effectiveness and Overdrafts
The term “junk fee” is not defined under federal law, but the CFPB has focused on factors such as whether the fee would be unexpected to or take advantage of a reasonable consumer, the amount of the fee compared to the cost...more
Over the last decade, financial institutions have seen an avalanche of claims regarding overdraft fees, especially in connection with debit card transactions. These claims are almost always brought as class actions. ...more
24 state attorneys general, the D.C. attorney general, and the Executive Director of the Hawaii Office of Consumer Protection have sent a joint comment letter to the CFPB urging it not to make any changes to the Regulation E...more
Cannabis / Marijuana- Iowa Attorney General Issues Statement on Legality of Hemp and Cannabidiol Products- Iowa AG Tom Miller issued a statement regarding the legality of hemp and cannabidiol (“CBD”) products under state...more
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
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
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
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
The American Bankers Association has submitted a letter commenting on the CFPB’s request for approval from the Office of Management and Budget to conduct “a national web survey of 8,000 individuals as part of its study of...more
Since opening its doors for business, behavioral economics has played a central role in the CFPB’s regulatory agenda. Behavioral economists posit that consumers are not rational decision makers and instead have certain...more
The CFPB announced yesterday that it had reached a settlement with Regions Bank regarding claims that the bank unlawfully charged overdraft fees to customers who had not opted-in for overdraft coverage. The matter is the...more
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
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
Bank Can Be Liable Under California Law for Overdraft Fee Charge Ordering - A checking account that includes a debit card feature is a “service” under California’s Consumer Legal Remedies Act, according to a new...more
In prepared remarks given on June 11, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray summarized the CFPB’s preliminary report on the overdraft practices of banks and other financial institutions....more