Payments News

CFPB FINDS SO-CALLED OVERDRAFT PROTECTION COSTS SOME $450/YEAR

Aug 04, 2017
This week, the Consumer Financial Protection Bureau (CFPB) rolled out draft "Know Before You Owe" disclosures for marketing so-called "Standard Overdraft Protection," a controversial product that requires consumers to "opt-in" for the "privilege" of overdrafting debit and ATM transactions. It wants to know what you think about the new sample disclosures (see them here; comment by email to Cfpb_overdraft_forms@cfpb.gov).

Read the full article:
http://www.uspirg.org/blogs/eds-blog/usp/cfpb-finds-so-called-overdraft-protection-costs-some-450year