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Overdraft Fees Overdraft Rule Financial Services Industry

Ballard Spahr LLP

NY State Department of Financial Services issues proposed overdraft rule

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The New York State Department of Financial Services has released a proposed rule that would regulate overdraft, non-sufficient funds (NSF), and return deposit item fees charged by banks, trust companies, savings banks,...more

Ballard Spahr LLP

Bank associations seek a preliminary injunction to block CFPB overdraft rule

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Mississippi Bankers Association, the American Bankers Association, the Consumer Bankers Association, America’s Credit Unions, and three banks are seeking a preliminary injunction blocking the CFPB from implementing the...more

Brownstein Hyatt Farber Schreck

CFPB Finalizes Controversial Overdraft Overhaul

On Dec. 12, the Consumer Financial Protection Bureau (CFPB) finalized a controversial rulemaking that would fundamentally alter how banks and credit unions offer overdraft services. The proposed rule was issued in January...more

Troutman Pepper Locke

CFPB Finalizes Rule on Overdraft Fees for Large Financial Institutions

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On December 12, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the finalization of its rule addressing overdraft fees. The rule targets financial institutions with more than $10 billion in assets,...more

Ballard Spahr LLP

CFPB issues overdraft rule prior to administration change

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The CFPB has issued its long-awaited final rule that covers overdraft policies at financial institutions with at least $10 billion in assets. The final rule offers those financial institutions three options for designing...more

Troutman Pepper Locke

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

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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

Brownstein Hyatt Farber Schreck

CFPB Targets Banks and Credit Unions in Controversial Overdraft Proposal

The Consumer Financial Protection Bureau (CFPB) released a long-anticipated notice of proposed rulemaking on Jan. 17 that would fundamentally alter how overdraft services are provided by banks and credit unions. The CFPB is...more

Ballard Spahr LLP

CFPB reported to be planning to unveil overdraft regulations before year-end

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Last week, Bloomberg Law reported that “Consumer Financial Protection Bureau officials have privately told industry executives that the regulator will likely unveil its long-awaited plan to crack down [on overdraft fees] in...more

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