Keeping An Eye On Overdraft Protection

Law360, New York (March 6, 2012, 1:27 PM EST) -- On Feb. 22, the Consumer Financial Protection Bureau announced an inquiry into checking account overdraft programs to determine how depository institution practices are impacting consumers.[1] In connection with its review of the existing regulatory and supervisory framework for bank overdraft programs, the agency issued a notice and request for information on the costs, benefits, risks to consumers and other issues with such programs.[2]

The CFPB is conducting the review in connection with the regulatory authority transferred to it last year under the Electronic Funds Transfer Act...
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