- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The CFPB is proposing model disclosure forms intended to improve upon what banks and credit unions already provide to consumers weighing overdraft coverage. The Bureau is currently testing four prototypes that have a simple, one-page design.
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A recent public rulemaking petition asks the SEC to prohibit guidance that becomes binding and enforceable. A separate petition seeks more detailed revenue breakdowns in banks’ 10-K filings.
The recently filed Stop Overdraft Profiteering Act of 2018 would ban overdraft fees on debit card transactions and ATM withdrawals and limit fees placed for checks and recurring payments.
During a panel at Compliance Week’s Financial Crimes and Regulatory Compliance Summit, held June 10-11 in New York, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves.
