Fees for Instantaneously Declined Transactions

26 organizations filed 26 public comments on Fees for Instantaneously Declined Transactions, at the Consumer Financial Protection Bureau. The comment window closed 855d ago.

Abstract

SUMMARY: The Consumer Financial Protection Bureau (CFPB) is proposing to prohibit covered financial institutions from charging fees, such as nonsufficient funds fees, when consumers initiate payment transactions that are instantaneously declined. Charging such fees would constitute an abusive practice under the Consumer Financial Protection Act’s prohibition on unfair, deceptive, or abusive acts or practices. ADDITIONAL INFORMATION: For more information about commenting on CFPB’s Notices, please visit us at: https://www.consumerfinance.gov/rules-policy/notice-opportunities-comment/commenting-on-notices/

Commenters (26)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• Clearview Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• Columbia Credit Unionunverified attribution

  1 filing · confidence 70%
• Community Bankers Association of Illinoistrade assoc.

  1 filing · confidence 85%
• Consumer Bankers Associationtrade assoc.

  1 filing · confidence 85%
• Consumer Federation of Americatrade assoc.

  1 filing · confidence 85%
• Cooperative Credit Union Associationtrade assoc.

  1 filing · confidence 97%
• CrossState Credit Union Associationtrade assoc.

  1 filing · confidence 85%
• Illinois Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Iowa Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• League of Southeastern Credit Unionstrade assoc.

  1 filing · confidence 85%
• Massachusetts Bankers Associationtrade assoc.

  1 filing · confidence 85%
• MD|DC Credit Union Associationtrade assoc.

  1 filing · confidence 85%
• Minnesota Credit Union Networkunverified attribution

  1 filing · confidence 70%
• Missouri Bankers Associationtrade assoc.

  1 filing · confidence 85%
• Mortgage Bankers Associationtrade assoc.

  1 filing · confidence 97%
• National Association for Latino Community Asset Builderstrade assoc.

  1 filing · confidence 85%
• National Federation of Independent Businesstrade assoc.

  1 filing · confidence 97%
• Ohio Credit Union Leaguetrade assoc.

  1 filing · confidence 97%
• Peach State Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• Rally Credit Unionunverified attribution

  1 filing · confidence 70%
• Redstone Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• The Clearing House Association LLCtrade assoc.

  1 filing · confidence 85%
• The Wisconsin Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Wake Forest Universityunverified attribution

  1 filing · confidence 70%
• Wisconsin Bankers Associationtrade assoc.

  1 filing · confidence 97%