Also: NAFCU, CUNA send debit interchange survey, join other trades in opposing rate cap bill

December 20, 2023

CFPB releases report on overdraft, nonsufficient funds ([link removed] )

The CFPB Tuesday released a report on overdraft and nonsufficient fund (NSF) fees. The data for the report comes from the 2023 Making Ends Meet survey and the CFPB’s Consumer Credit Panel.

NAFCU, CUNA send debit interchange survey ([link removed] )

Members of NAFCU and CUNA Tuesday received a survey on debit interchange fees. The survey will allow the associations to quantify the cost and return on debit card programs and to better understand how potential regulations will impact credit unions and their members.

NAFCU, trade groups write opposition letter on rate cap bill ([link removed] )

NAFCU and other financial services trade groups sent a joint letter to the U.S Senate on Tuesday opposing Sen. Jack Reed’s, D-R.I., Predatory Lending Elimination Act.

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CFPB issues $21M fine against U.S. Bank ([link removed] )

The CFPB Tuesday announced it ordered U.S. Bank to pay $21 million for preventing unemployed consumers from accessing unemployment benefits during the pandemic. The bureau noted that U.S. Bank froze consumer accounts but did not provide quick or reliable means to reaccess those accounts. The order requires the bank to pay $5.7 million to harmed consumers and an additional $15 million to the CFPB.

CFPB issues annual student banking report ([link removed] )

The CFPB Tuesday issued a report that found that many colleges continue to employ marketing strategies for financial products and services that may mislead students.

SGC24_Skyscraper_1 ([link removed] )

NAFCU CALENDAR ([link removed] )

DEC

22
CFPB - Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications
([link removed] )

Comments Due to NAFCU

JAN

4
Financial Crimes Enforcement Network - Beneficial Ownership Reporting Requirements ([link removed] )

Compliance Deadline

JAN

5
Federal Reserve - Debit Interchange Fees and Routing ([link removed] )

Comments Due to NAFCU

JAN

5
FinCEN - Convertible Virtual Currency Mixing ([link removed] )

Comments Due to NAFCU

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Learn more ([link removed]) about the merger to form America's Credit Unions

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