CFPB May Flag Check Reordering In Overdraft Fee Crackdown

Law360, New York (June 11, 2013, 7:37 PM EDT) -- The Consumer Financial Protection Bureau says it has not yet formed a plan for regulating overdraft protection fees, but experts say its Tuesday report signals that the bureau is likely to scrutinize how banks sequence and process consumer transactions as it develops a uniform standard.

The CFPB report on overdraft protection plans found that although many banks have already changed the terms of their overdraft protection programs in order to minimize the fees incurred by customers, consumer protections are uneven throughout the industry and a uniform...
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