National Federation of Independent Business filed 1 comment on this docket between Feb 8, 2024 and Feb 8, 2024. 25 other organizations filed here. The comment window closed 855d ago.
NFIB (National Federation of Independent Business) comment letter of February 8, 2024, in response to Consumer Financial Protection Bureau notice of proposed rulemaking titled "Fees for Instantaneously Declined Transactions," Docket No. CFPB-2024-0003, 89 Fed. Reg. 6031 (January 31, 2024), is attached.
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/
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