Mar 29, 2024· Comment from Illinois Credit Union League· CFPB-2024-0002-0622
Filed on regulations.gov — full text not in the inline record.
CFPBRulemakingCFPB-2024-0002
Overdraft Lending: Very Large Financial Institutions
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Oct 1, 2024
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Illinois Credit Union League filings
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Illinois Credit Union League filed 1 comment on this docket between Mar 29, 2024 and Mar 29, 2024. 75 other organizations filed here. The comment window closed 848d ago.
What Illinois Credit Union League filed (1)
Abstract
SUMMARY: The Consumer Financial Protection Bureau (CFPB) proposes to amend Regulations E and Z to update regulatory exceptions for overdraft credit provided by very large financial institutions, thereby ensuring that extensions of overdraft credit adhere to consumer protections required of similarly situated products, unless the overdraft fee is a small amount that only recovers applicable costs and losses. The proposal would allow consumers to better comparison shop across credit products and provide substantive protections that apply to other consumer credit. 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/
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