CFPB finalizes overdraft lending rule for “very large financial institutions”
By EsqSocial Corporation 20/12/24
On December 12, the CFPB issued a final rule, restricting the amount that certain financial institutions can charge for their overdraft service. As previously covered by InfoBytes, historically, the Fed exempted banks from credit disclosure requirements when an overdraft was needed to honor checks (for a fee)....
By: Orrick, Herrington & Sutcliffe LLP