Consumer Finance Watchdog Caps Overdraft Fees as Banks Object

The CFPB caps fees at $5 per overdraft notice, saying banks have turned added fees into a profit center.

Topics

What’s next for banks amid noise around new overdraft-fee cap

Consumer groups applauded the move, but banks said customers could be driven toward more expensive options such as payday loans.
MarketWatch - 46m
New Federal Rule Limits Overdraft Fees at Large Banks

It is unclear whether the rule, which could help save Americans billions in fees each year, will remain in place after President-elect Donald J. Trump returns to office.
The New York Times - 1h
CFPB announces rule limiting bank overdraft fees

The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees.
NBC News - 2h
CFPB announces rule limiting bank overdraft fees

The CFPB says the rule will save American consumers $5 billion annually.
CNBC - 2h
Consumer watchdog faces daunting future under Trump

The Consumer Financial Protection Bureau (CFPB) is headed for a rocky future under President-elect Trump. The powerful financial watchdog agency is in for a reckoning during a second Trump ...
The Hill - 3d
Why Rules On Data Scammers and Credit Card Fees May Be the Consumer Financial Protection Bureau’s Swansong

The CFPB is meant to act in the best interest of the American consumer, but powerful corporate opposition and the ire of Elon Musk may mean a dicey future for the agency.
Inc. - Dec. 4
Consumer watchdog wants FTC to investigate Oz for influencer marketing violations

A consumer advocacy group wants the Federal Trade Commission (FTC) to open an investigation into whether Dr. Mehmet Oz violated influencer marketing rules by promoting products from a wellness and ...
The Hill - Dec. 3
Top US Consumer Watchdog Has a Plan to Fight Predatory Data Brokers

A new proposal by the Consumer Financial Protection Bureau would use a 54-year-old privacy law to impose new oversight of the data broker industry. But first, the agency must survive Elon Musk.
Wired - Dec. 3
Consumer watchdog proposes crackdown on personal data sales

The Consumer Financial Protection Bureau (CFPB) on Tuesday rolled out a new proposal aimed at cracking down on data brokers selling Americans' sensitive information. Under the proposed rule, the ...
The Hill - Dec. 3