Proposal Would Adjust Error Resolution Requirements and Provide More Flexibility for Credit Cards Linked to Digital Wallets
We have released a plan to assess the effectiveness of the remittance rule and are asking the public for comments and information that would help the assessment.
Thank you for joining the call. Today, we are suing TCF National Bank for tricking consumers to opt in for costly overdraft services. We believe TCF trained its employees to use unlawful tactics in their marketing to consumers. They made overdraft seem mandatory when it was not. They obscured information about fees when opening accounts for new customers. They adopted a loose definition of “consent” to opt in existing customers, and they pushed back aggressively against any customer who questioned the process. In the end, many of their customers had no idea they had opted in for expensive services that exposed them to high fees.
Bank Obscured Fees, Adopted Loose Definition of Consent to Preserve Overdraft Revenue
New Rule Includes ‘Know Before You Owe’ Prepaid Disclosures
Thank you for joining us on this call. The Consumer Financial Protection Bureau today has finalized a new rule providing strong federal consumer protections for prepaid account users.