CFPB pitches new disclosure form for overdraft fees
The CFPB is proposing model disclosure forms intended to improve upon what banks and credit unions already provide to consumers weighing overdraft coverage. The Bureau is currently testing four prototypes that have a simple, one-page design.
Related articles
-
Article
SEC petitions for ‘guidance’ restrictions, enhanced bank disclosures to break out overdraft fees
A recent public rulemaking petition asks the SEC to prohibit guidance that becomes binding and enforceable. A separate petition seeks more detailed revenue breakdowns in banks’ 10-K filings.
-
Blog
Legislation seeks crackdown on bank overdraft fees
The recently filed Stop Overdraft Profiteering Act of 2018 would ban overdraft fees on debit card transactions and ATM withdrawals and limit fees placed for checks and recurring payments.
-
News BriefCFPB humility pledge reshapes exam process, as agency faces uncertain future
The U.S. Consumer Financial Protection Bureau’s Supervision Division introduced a new “humility pledge” last month that examiners will read aloud at the start of each oversight engagement. It’s another shift in how the organization handles itself under the Trump administration.