In case you missed it, the CFPB issued a Proposal back in January regarding overdrafts. The proposal is just one piece of the CFPB’s overarching goal of eliminating junk fees within the financial industry. The proposal seeks to impose limits on what covered financial institutions can charge for an overdraft as well as require certain loan-type disclosures, under Regulation Z, for “covered overdraft credit”. While this is just a proposal and technically only applicable to larger financial institutions, it will still have some impact on financial institutions not covered. During the webinar, we will be discussing this proposal, as well as the CFPB’s Proposal on Non-Sufficient Funds Fees and much more!
Listen as Jerod explains the “why” behind the overdraft proposal:
Published
2024/07/19