Banking groups file complaint challenging CFPB’s overdraft lending rule
By EsqSocial Corporation 24/12/24
On December 12, several banking associations and individual financial institutions filed a complaint in the U.S. District Court of the Southern District of Mississippi against the CFPB, challenging its final rule amending Regulation Z to cover overdraft services not previously regulated under TILA. As previously covered by InfoBytes, the CFPB finalized its rule to restrict the amount that certain financial institutions can charge for overdraft services. Under the new rule, which is planned to go...
By: Orrick, Herrington & Sutcliffe LLP