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Overdrafts: Navigating the evolving regulatory landscape

December 6, 2023

In recent months, regulators have issued multiple documents in the form of supervisory guidance and observations, raising concerns for credit unions.

Consumer Financial Protection Bureau Multiple Fees Re Presented Items Authorize Positive Settle Negative Supervisory Highlights

Source: cuinsight.com

Daily Financial Regulation Update -- Thursday, April 27, 2023 | Paul Hastings LLP

April 27, 2023

April 26, 2023- House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill...

New York United States Puerto Rico City Of United Kingdom French Hill

Source: jdsupra.com

CFPB Issues Report on Unlawful 'Junk Fees' Uncovered in Deposit Accounts, Multiple Loan Servicing Markets | Insights

March 20, 2023

On March 8, 2023, the Consumer Financial Protection Bureau (CFPB) released the Supervisory Highlights Junk Fees Special Edition (Report) detailing unlawful fees the agency found in deposit accounts and in multiple loan servicing markets during CFPB examinations completed between July 1, 2022, and Feb. 1, 2023.

White House District Of Columbia United States Consumer Financial Protection Bureau Deposit Insurance Corporation Go To Guide

Source: gtlaw.com

CFPB Report on Junk Fees

March 17, 2023

CFPB's report on unlawful junk fees in deposit accounts and in multiple loan servicing markets identifies instances of depository institutions charging junk fees on consumer deposit accounts, including surprise overdraft fees and multiple NSF fees for a single transaction.

White House District Of Columbia United States Consumer Financial Protection Bureau Deposit Insurance Corporation Supervisory Highlights Junk Fees Special Edition

Source: natlawreview.com