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

CARES Act Provisions and Other Coronavirus Issues Affecting Financial Institutions (Coronavirus and the Law)

By Eric J. Sorenson Jr.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) included several provisions affecting financial institutions. Debt Guaranty Authority (Applicable to Insured Depository Institutions) The CARES Act amended provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act to… Read more

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