Tag Archives: Overdraft

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Joint Letter: Consumer Groups Applaud CFPB Review of Overdraft Fees, Oppose Senate Move Against Forced Arbitration Rule

The Consumer Financial Protection Bureau’s review of unfair and abusive overdraft practices is complemented by its recent efforts to limit the use of forced arbitration, said five consumer groups in a joint letter sent today to Director Richard Cordray. U.S. Senate leadership is pushing for a vote this week on a Congressional Review Act (CRA) resolution to repeal a CFPB rule that restores consumers’ right to join together in court against banks and lenders.

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Coalition Sends Comments to FDIC on Overdraft Fees

A coalition of consumer advocates recently sent this letter to Sheila Bair about the FDIC and overdraft fees. Dear Ms. Bair: We, the undersigned civil rights, labor, consumer, housing, community,  business, and sustainable and responsible investor groups, write to thank the FDIC for bringing attention

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AFR Supports Overdraft Lending Reform

Americans for Financial Reform and our partners sent these letters (House, Senate, both links are PDFs) to Congress stating our strong support for overdraft reform.  New bills introduced in the House and Senate take dramatic steps to protect consumers from sneaky overdraft loans.  You can