Compliance & FinTech

New CFPB Guidance: Surprise Overdraft Fees and Returned Check Fees Are Likely Unfair and Unlawful

By Joseph (Jay) E. Spruill III

On October 26, 2022, the Consumer Financial Protection Bureau (CFPB) issued guidance stating “surprise overdraft fees” and “returned deposited item fees” generally violate the federal Consumer Financial Protection Act’s prohibition on “unfair practices” when consumers cannot avoid such fees. In… Read more

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