CFPB criticizes overdraft fees in report

06/11/2013 | Washington Post, The · Bloomberg · Wall Street Journal, The

The Consumer Financial Protection Bureau plans to release a report today scrutinizing the banking industry for its use of overdraft fees. The agency said it has no current plans to issue or recommend new rules on the practices. "CFPB ought not adopt any policy that drives America's families to unregulated industries with riskier and costlier alternatives," said Richard Hunt, CBA president and CEO. "Consumers have the right to choose the products and features which best provide for their family's daily financial needs."

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Washington Post, The · Bloomberg · Wall Street Journal, The

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