News Topic: Overdrafts

From the end of overdraft fees to the rise of banks that watch their customers' every move, there are several new banking trends on the horizon in 2019. ... Read full article

Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision. ... Read full article

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality. ... Read full article

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be. ... Read full article

Readers weigh in on bank overdraft policies, react to megabank capital standards, respond to Sen. Heidi Heitkamp's tough re-election bid and more. ... Read full article

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit. ... Read full article

The Trump administration's stance on immigration is causing headaches for some banks, how a tiny black-owned bank is turning to fintech to turn itself around; why banks are rejecting Facebook's offer to share data and more from this week's ... Read full article

Readers opine on prospects for the midterm elections, respond to Facebook's forays into collecting bank data, weigh in on new overdraft legislation and more. ... Read full article

There’s much for banks to like — and for consumer advocates to dislike — in a report on the industry's overdraft policies released Tuesday by the Center for Responsible Lending. ... Read full article

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals. ... Read full article

Federal bank regulators consider roughly a dozen new rules; firms tout tools to help financial institutions bank legal marijuana-related businesses; Mick Mulvaney defends CFPB enforcement powers; and more from this week's most-read stories. ... Read full article

Its noninterest expense rose 17% from a year earlier, in part because of costs stemming from its recent overdraft protection settlement with federal regulators. ... Read full article

The bank also agreed to pay a $5 million fine to settle allegations that it overcharged consumers between 2010 and 2013. ... Read full article

How the big banks fared in the Fed's latest round of stress testing; what's on new FDIC chair Jelena McWilliams' plate; why banks' biggest risk factor may be employees who don't speak up; and more from this week's most-read ... Read full article

JPMorgan Chase and Wells Fargo are following Silicon Valley's lead by offering new fee-free accounts. While there are risks involved, the cost of doing nothing would be significant, analysts said. ... Read full article

Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing. ... Read full article

Oportun, a consumer lender that focuses on Latinos, is rolling out a product designed to combat overdraft fees. ... Read full article

A customer is claiming that the Chicago bank operates a "predatory" overdraft fee program. ... Read full article