CFPB Proposes Rule to Limit Fee Income on Overdraft Loans
On January 17, 2024 the CFPB dropped the highly anticipated proposed rule on overdraft fees. This rule, if adopted, would amend Regulation Z and Regulation E to update regulatory exceptions for overdraft credit provided by financial institutions with assets over $10 Billion, which covers approximately the 175 largest depository institutions in the country. The compliance …
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