America’s Credit Unions Voices Support for Overturning CFPB’s Overdraft Rule
In the evolving struggle over the CFPB’s overdraft fee policy, America’s Credit Unions in collaboration with five other financial services trades has submitted a letter to Congress to reverse the rule set to take effect in October. CUSO Magazine’s Esteban Camargo reports.
Cap on Overdraft Fees Put on Back Burner as Acting CFPB Director Bessent Freezes Activity
Following the firing of former CFPB Director Rohit Chopra, new Acting Director Scott Bessent has ordered that much of the CFPB’s current initiatives be halted. CUSO Magazine’s Esteban Camargo reports.
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.
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.
CFPB’s Proposed Overdraft Fees Rule Lauded by Some, Condemned by Others
The CFPB’s proposed overdraft rule, which would affect the largest credit unions and banks, is praise from consumer rights advocates. Banks and credit unions, however, are standing united in opposing the rule, reports David Baumann.
Credit Unions Vs Banks: Finding My Financial BFF
Long-time bank customer and recent credit union industry employee, David Boden, wonders if his money really is better off with a credit union over a bank and goes on a informational journey to finally learn which is best for him.
