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Published
Category: Speech

Prepared Remarks of CFPB Director Richard Cordray on the Overdraft Press Call

Thank you for joining us. In our fast-moving modern economy, it is increasingly common for consumers to use debit cards the way they used to use cash. They also write checks and arrange for money to be taken out of their account. This makes it harder to keep track of their checking account balances from day to day, even if they are diligent about checking their balances online or by phone. Consumers living on the edge can find themselves racking up numerous overdraft charges.

Published
Category: Blog

New insights on bank overdraft fees and 4 ways to avoid them

For the first time in 2015, large banks began reporting separately certain categories of fees—including overdraft and non-sufficient fund fees. The new fee revenue information is helping us understand the magnitude and diversity of banks’ overdraft programs. Here are some tips to help you reduce or avoid overdraft and NSF fees.

Published
Category: Blog

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.