How Banks Should Respond To Calif. AG's Overdraft Warning

By Brett D. Watson and Madeline Suchard (April 9, 2024, 5:33 PM EDT) -- In February, California Attorney General Rob Bonta issued a letter to California banks and credit unions warning that surprise overdraft fees and returned deposit item fees charged to consumers may violate state and federal unfair competition and consumer protection laws.[1] Bonta's warning follows the Consumer Financial Protection Bureau's January announcement of a proposed rule targeting overdraft fees charged by large, national banks.[2]...

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