Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CFPB Overdraft Report Doesn't Suggest Rule Changes
WASHINGTON (6/11/13)--The Consumer Financial Protection Bureau has released its report on overdraft protection plans, and while the report--embargoed until midnight this morning--expresses concern about the ability of consumers to avoid overdraft costs, it does not recommend regulatory changes or changes to business practices.

The bureau used more than 1,000 consumer-submitted comments, and its own data research, to compile the report.

Current checking account issues, information on opt-in rates and disclosures are also discussed in the CFPB release.

The Credit Union National Association is studying the report this morning.  Watch News Now for a live update on its contents.

CUNA will clarify the following points, and more,  with the CFPB:
  • Did the study include credit unions? If so, how many? How many banks?
  • When does CFPB plan to target its next study, which will be on micro data?
  • Following that, are there additional plans in the works on these programs?


RSS print
News Now LiveWire
#Iowa Housing Authority honors #creditunion's mortgage commitment #NewsNow http://t.co/97me6ziPFa
11 hours ago
Adams to Zimmerman: Don't let your name define your financial decisions via @ndn http://t.co/kPVgQaDFNo
14 hours ago
Calif. ride-sharing law protects #creditunion collateral #NewsNow #System http://t.co/kXAAmbQgKO
15 hours ago
New offices mean moving sale at @TheKCUA https://t.co/xaof5SJkmE
16 hours ago
Existing-home sales slump in August as cash purchases decline @REALTORS
17 hours ago