CFPB to Put the 'Squeeze' on Overdraft Fees

Let's look at the bureau's proposal and how it will impact all banks. We also examine the size of the FDIC special assessment for several large and midsize banks.

Hello again, Bank Slaters!

Feeling prolific writing this newsletter. It is very cold outside, and I’m in the house in front of a fire — so this one is lengthy. Also prepping for my first AOBA — if you’re going let me know at info@thebankslate.com or (336) 707-3947. Let’s have coffee or a drink and catch up!

Let’s talk about the CFPB’s latest crackdown on overdraft fees.

The CFPB on Wednesday proposed a rule to limit overdraft charges at U.S. banks and credit unions with more than $10 billion of assets. The proposal, which the CFPB estimates would apply to 175 depository institutions, would replace the typical $35 overdraft fee with a set of options for establishing lower fees.