We support reforms to the financial marketplace to curb bad practices by banks and lenders.
overdrafts
CFPB reviews unfair bank overdraft policies
Consumers need protection from bank practices that boost costly overdraft fees
Categories: Banking, CFPB
Tags: cfpb, overdrafts
CU comments to the OCC on Overdraft and Bank Payday
August 8, 2011 Office of Comptroller of the Currency 250 E Street, SW Mail Stop 2-3 Washington, D.C. 20219 Re: OCC Guidance on Deposit-Related Consumer Credit Products, Docket ID OCC-2011-0012 Dear Acting Comptroller Walsh: With this proposed guidance the OCC missed an opportunity to truly protect consumers from concerns raised by overdraft loans and Continue Reading
Categories: Banking
Tags: comment, loans, overdrafts, Payday Loans
Get the Facts About Overdrafts and Fees
Get the Facts About Overdrafts and Fees Is Your Bank Asking You to Opt-In to Steep Overdraft Fees? Just Say No to Debit Card Overdrafts! New Rules Issued by the Federal Reserve The Federal Reserve issued new rules requiring banks to get consumers’ consent or “opt‐in” to pay overdraft fees for debit card single purchase Continue Reading
Categories: Banking
Tags: factsheet, loans, overdrafts
Consumer groups urge NCUA to adopt stricter guidance to curb overdraft abuses
November 30, 2010 As financial institutions continue their campaigns to persuade consumers to agree to pay steep fees for debit card overdrafts, we urge the National Credit Union Administration to adopt stricter supervisory guidance to curb ongoing overdraft abuses. We make the following specific recommendations: • End excessive overdraft fees at NCUA-supervised credit unions: • Continue Reading
Categories: Banking
Tags: legislation, loans, overdrafts
Consumers Are Saying No To Expensive Fee Programs (When given a choice)
Consumer Reports Poll: Only 22 Percent of Bank Customers Have Opted-In For Debit Card Overdraft “Protection”
Categories: Banking
Tags: loans, overdrafts
CR Poll: Only 22 Percent of Bank Customers Have Opted-In For Debit Card Overdraft “Protection”
Large majority of consumers want right to choose whether to be covered by fee-based overdraft programs for checks
Categories: Banking
Tags: debit cards, loans, overdrafts
Tells Wells Fargo To Give Back $203 Million In Overdraft Fees
Consumers need to let Wells Fargo CEO John Strumpf know that ripping off his customers is wrong.
Categories: Banking
Tags: loans, overdrafts
Consumer Groups Urge Feds To Force Banks To Provide Fair Overdraft Policies
Tuesday, October 19, 2010 Consumer Groups Call on the Office of Comptroller of the Currency to End Abusive Overdraft Practices Washington, DC – The Consumer Federation of America, the National Consumer Law Center (on behalf of its low-income clients), the Center for Responsible Lending, Consumers Union, Consumer Action, National Association of Consumer Advocates Continue Reading
Categories: Banking
Tags: legislation, loans, overdrafts
Bank In Texas To Give Back $32M In Overdraft fees
Woodforest bank has settled with the OCC and will be returning $32 Million in ill gotten overdraft fees. We think Wells Fargo should do the same.
Categories: Banking
Tags: loans, overdrafts
Groups urge OCC to adopt stricter guidance for banks to use fair overdraft practices and fully inform consumers.
October 13, 2010 As banks continue their campaigns to persuade consumers to agree to pay steep fees for debit card overdrafts, we urge the Office of Comptroller of the Currency to adopt stricter guidance that effectively requires banks to use fair overdraft practices and fully inform consumers. In the past several months, our organizations filed Continue Reading
Categories: Banking
Tags: legislation, loans, overdrafts
