CFPB Review of Overdraft Protection has Broad Implications for Banks
March 01, 2012
By KEVIN L. PETRASIC AND MICHAEL A. HERTZBERG
The Consumer Financial Protection Bureau's (CFPB) recently announced a review of checking account overdraft protection programs to determine how depository institution overdraft practices are impacting consumers. This Stay Current discusses the parameters of the CFPB review, as well as the agency's notice and request for information on the costs, benefits, risks to consumers and other issues with overdraft protection programs.