Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Issuing agencies
Abstract
The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024-05, titled "Improper Overdraft Opt-In Practices." In this circular, the CFPB responds to the question, "Can a financial institution violate the law if there is no proof that it has obtained consumers' affirmative consent before levying overdraft fees for ATM and one-time debit card transactions?"
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.