CBA survey examines impact of CFPB’s overdraft rule on consumers
A survey of banks conducted by the Consumer Bankers Association (CBA) looks at how the Consumer Financial Protection Bureau’s (CFPB) proposed rule on overdraft would impact consumers. The survey found that more than 90 percent of banks that responded said that any of the CFPB’s proposed overdraft fee caps would reduce the amount of overdraft-related liquidity they are able to offer to consumers. Specifically, 92 percent of banks said that if the CFPB caps overdraft fees at either the $...
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