CFPB Finalizes Controversial Overdraft Overhaul
By EsqSocial Corporation 19/12/24
On Dec. 12, the Consumer Financial Protection Bureau (CFPB) finalized a controversial rulemaking that would fundamentally alter how banks and credit unions offer overdraft services. The proposed rule was issued in January 2024 and the agency received over 48,000 public comments, but the rule was largely finalized as proposed. With the end of the Biden administration rapidly approaching, this is likely one of the final high-profile rulemakings issued in conjunction with the White House’s broader...
By: Brownstein Hyatt Farber Schreck