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
Reminder: @TheNCUA's Listening Session tomorrow in Chicago. Capacity crowd expected for meeting at 1 p.m. CT. http://t.co/FYYuoHCdVJ
1 hours ago
Mortgage apps up 1.9% in @MBAMortgage's weekly survey http://t.co/QBzKWdnRkH
2 hours ago
Manage your household budget with these 5 @SavvyMoney tips from @MCUA_news's Halley Abbott on @FOX2now http://t.co/qaXIbnNktt
2 hours ago
Wash state's marijuana market open but still short of FIs to serve it via @NWCUA http://t.co/qwxCVEZbPG
3 hours ago
.@AnheuserBuschCU, @ScottCU, @betterwaytobank, @FirstCommSTL on @stltoday's best workplaces list http://t.co/8yR4GcZkya.
3 hours ago