NCUA Releases Research Note On Overdraft Fee Income
The NCUA has released a research note on credit union NSF and overdraft fee income as the CFPB attempts to limit such fees, Emily Claus reports.
Topics Credit Unions Should Keep an Eye On in the New Year
With the first week of the new year under our belts, Emily Claus covers some of the industry shifts and potential changes coming in the next few months that credit unions should have an eye on.
America’s Credit Unions Sets 2025 Advocacy Priorities
In the first week of the new year, America’s Credit Unions has released its official advocacy priorities for 2025, just two months ahead of the Governmental Affairs Conference, reports Emily Claus.
The Fight On Overdraft Is Not Over
The CFPB has finally made a move in the overdraft fee standoff, triggering fast response from advocacy groups and financial institutions alike, reports Emily Claus.
CFPB Slaps Navy Federal Credit Union with $95 Million “Junk Fees” Penalty
The Consumer Protection Financial Bureau announced it had agreed with Navy Federal Credit Union on a penalty totaling $95 million for authorize positive, settle negative overdraft protection practices spanning years; CUSO Magazine’s Esteban Camargo reports.
White House Proposes New Law to Crackdown on Chatbots and Automated Recordings
In a new government-wide measure announced on Monday, the Biden Administration is going to begin cracking down on poor customer service practices it feels waste consumers’ time and money, such as AI chatbots, automated call responses, bad review suppression, reports Emily Claus.
The Overdraft Issue
Overdraft fees have long been the topic of debate, with the CFPB looking to severely limit or get rid of them entirely and credit unions, in return, looking to get rid of the CFPB entirely. But there are two sides, maybe even three, to every story. Emily Claus examines the overdraft issue, the various perspectives on it, and what potential outcomes there might be.
Despite Supreme Court Ruling, CFPB Still Under Fire From Critics
Supporters of the Consumer Financial Protection Bureau may have hoped that the recent U.S. Supreme Court ruling finding its funding mechanism constitutional would calm its critics; David Baumann reports on why that hasn’t been the case.
CFPB Structure, CDFI Funding, and Marijuana Banking Addressed in New Appropriations Bill
The House recently passed the FY25 Financial Services and General Government Appropriations Bill which restructures the CFPB and limits its funding, calls for marijuana banking protections, and outlines CDFI funding, Emily Claus reports.
Supreme Court’s Rules in Favor of CFPB; Director Chopra Ramps Up Activity
Now that the Supreme Court has found the Consumer Financial Protection Bureau’s funding mechanism constitutional, Director Rohit Chopra is revving up the agency’s engines, reports David Baumann.
