After seeing a 20 to 25 percent loss in overdraft/NSF fees in 2021, small banks largely rebounded early this year. Midsize and large banks have yet to recoup those numbers.
Federal regulators fined Bank of America $225 million for mishandling the distribution of pandemic unemployment dollars and other public benefits.
The Consumer Financial Protection Bureau issued an advisory opinion late last month affirming that federal law frequently prohibits debt collectors from charging “pay-to-pay” fees.
The Consumer Financial Protection Bureau issued a legal interpretation on July 7 advising that credit reporting companies and users of credit reports “have specific obligations to protect the public’s data privacy,” and could be held criminally liable for not meeting those obligations.