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.
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 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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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.
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.
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