News & Analysis as of

Consumer Financial Products › Overdraft Fees › New Guidance

Goodwin

2024 Year in Review: Cards, Payments, and Consumer Banking

Goodwin on

We expect continued scrutiny by regulators on fees, including enforcement actions and rulemakings, with the caveat that the new administration could shift federal priorities away from this fee crackdown....more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2024

Nutter McClennen & Fish LLP on

CFPB Imposes $5 Cap on Overdraft Fees Charged by Large Banks - The CFPB has adopted a final rule capping overdraft fees at $5 for banks and other depository institutions with more than $10 billion in assets (covered...more

Hudson Cook, LLP

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

Sheppard Mullin Richter & Hampton LLP

New CFPB Circular: Reopening Closed Accounts May Violate CFPA 

Sheppard Mullin Richter & Hampton LLP on

On May 10, the CFPB announced the release Circular 2023-02 to confirm that reopening closed accounts may violate federal law. Based on its review of consumer complaints, the CFPB observed that after customers closed their...more

Hudson Cook, LLP

CFPB Bites of the Month - February 2023 - "Every Compliance Rose Has Its Thorns"

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the February webinar....more

Shipkevich PLLC

CFPB’s October 26, 2022 Circular Clarifies Surprise Overdraft Fees Trigger Liability under the Consumer Financial Protection Act...

Shipkevich PLLC on

On October 26, 2022 the Consumer Financial Protection Bureau (“CFPB”)  published Consumer Financial Protection Circular 2022-06. Circular 2022-06 asserts that the imposition of overdraft fees upon consumers by financial...more

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