House Republicans appear ready to start the Congressional Review Act (CRA) process to attempt to repeal the Biden Administration’s controversial overdraft rule....more
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
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
When my kids were much younger, we started a New Years' Eve tradition of writing down our predictions for the upcoming year. Our practice of forecasting the year in sports, world events, and the anticipated life milestones of...more
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
Recent regulatory developments of interest to financial institutions with focus on consumer finance. Includes further COVID-19 support for customers, an FCA update on bank overdraft pricing decisions, and more....more