CFPB Issues Guidance on Two Bank “Junk Fee” Categories
Troutman Sanders
OCTOBER 31, 2022
Specifically, the CFPB published a compliance bulletin , cautioning against charging across-the-board depositor fees to consumers who deposit a check that bounces, as well as a circular on what the CFPB refers to as “surprise” overdraft fees —the CFPB’s way of referring to authorize positive, settle negative practices (APSN).
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