News & Analysis as of

Consumer Financial Products › Overdraft Fees › Unfair or Deceptive Trade Practices

Ballard Spahr LLP

State authorities stepping up consumer protection efforts

Ballard Spahr LLP on

In the wake of recent federal directives diminishing the Consumer Financial Protection Bureau (CFPB), state authorities are increasingly stepping in to uphold consumer protections. Michigan Attorney General Dana Nessel has...more

Troutman Pepper Locke

New York Issues Proposed Regulations About Overdraft Fees

Troutman Pepper Locke on

Given the future uncertainty of the Consumer Financial Protection Bureau’s (CFPB) efforts to regulate bank overdraft fees, New York’s Department of Financial Services (DFS) has stepped in to fill a perceived gap. The DFS...more

Sheppard Mullin Richter & Hampton LLP

New York Proposes Limits on Overdraft and NSF Fees

Sheppard Mullin Richter & Hampton LLP on

On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more

Sheppard Mullin Richter & Hampton LLP

CFPB Publishes Supervisory Highlights Focused on Deposits, Small-Dollar Lending, BNPL, and Paycheck Advance Products

Sheppard Mullin Richter & Hampton LLP on

During the week of January 6, the CFPB released a “second” Winter 2024 Supervisory Highlights, focused on the agency’s most recent findings in deposits, small dollar lending, buy now, pay later (BNPL), paycheck advance...more

Ballard Spahr LLP

NCUA Increases Scrutiny of Overdraft, NSF, and RDI Fees

Ballard Spahr LLP on

The National Credit Union Administration has issued guidance to federal credit unions regarding the consumer harm stemming from certain overdraft and non-sufficient funds (NSF) fee practices. The NCUA will continue to review...more

Goodwin

CFPB Enters Into $95 Million Consent Order with Credit Union to Resolve Allegations of Improper Overdraft Fee Practices

Goodwin on

​On November 7, 2024, the CFPB ann​ounced​​ that it had entered into​ a consent order with a major credit union​​ resolving ​allegations that the credit union improperly assessed overdraft fees against consumers​​. The credit...more

Ballard Spahr LLP

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

Ballard Spahr LLP on

A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit Insurance Corporation (FDIC) and Chairman...more

The Volkov Law Group

Bank of America Hit with $250 Million in Penalties for Account Abuse Practices

The Volkov Law Group on

Bank of America joined the club of consumer abusers – Wells Fargo had been the well-established leader of this club and the poster-child for abusive consumer practices.  For years, Bank of America avoided federal...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

9 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide