Overdraft

CBA supports the principles of customer choice, transparency, and fairness in deposit account partnerships. Recently-enacted federal regulation has afforded consumers greater protection via detailed disclosures. Absent substantial evidence that this regulation is failing or falling short of its intended purpose, CBA believes further incremental changes to the rules governing overdraft protection will only add logistical complexity and increased consumer confusion without corresponding benefits. CBA believes coordination among the federal banking regulators will lead to more regulatory certainty for financial institutions and greater clarity for consumers.
  • March 22, 2013
    CBA LIVE 2013 Takeaways I left Phoenix smarter, more inspired and more connected to our industry. Many of our sessions were standing-room only – next year, we’ll have more chairs! Among my top takeaways: Millennials are the largest living generation; bankers are fascinating; branches may only need pruning to encourage new growth – but they are not dead at all; and we are more focused than ever on...
  • March 1, 2013
    Overdraft “Reform” Forecast It now appears the CFPB will not be “reforming” overdraft protection at least until the end of the year – if at all. Small institutions – credit unions and banks alike – have been carved out to some degree of the first CFPB rules – remittances and QM. These groups also have advocated for a halt to any overdraft action since, it would be extremely difficult for the CFPB...
  • March 20, 2012
    Ombudsman released its third annual report detailing "inreach" within the Bureau, and summarizing the interactions with parties outside the CFPB in its information collection...

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