This week, Independent Community Bankers of America president and CEO Rebeca Romero Rainey spoke out against the Consumer Financial Protection Bureau’s final rule on overdraft services. Despite the Consumer Financial Protection Bureau’s overdraft rule’s exemption for community banks under $10 billion in assets, Rainey said… Read More
The Consumer Bankers Association (CBA), American Bankers Association (ABA), America’s Credit Unions, Mississippi Bankers Association, and other individual banks have joined in a lawsuit challenging the final rules issued by the Consumer Financial Protection Bureau impacting overdraft regulations. Yesterday, the CFPB issued rules that manage… Read More
The Consumer Financial Protection Bureau (CFPB) has announced a final rule that addresses the overdraft system for consumers who need credit beyond an existing balance. The new rule allows large banks several options for overdrafts: They can choose to charge $5; To offer overdraft as… Read More
As was reported earlier this week, the Consumer Financial Protection Bureau (CFPB) has published a report on overdraft fees. These usurious fees generate billions on revenue for traditional banks. Almost like a drug addict, old banks struggle to eliminate these fees that end up harming… Read More
The Financial Conduct Authority (FCA) is introducing new rules regarding overdraft fees that impact consumers. The new rules expect to benefit 70% of the population as banks will now be required to charge a simple annual interest rate, without any additional fees or charges beginning… Read More
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