Commentary: Don't look for CFPB to cap overdraft fees

03/11/2013 | AmericanBanker.com (free registration)

Banks should not abandon efforts to improve their overdraft programs because they fear the Consumer Financial Protection Bureau is going to cap fees, writes Christopher Leonard, president of Velocity Solutions. Among the reasons that CFPB won't interfere with fees is that most overdraft fees are paid by higher-income customers and that money is then used to fund free checking accounts for lower-income customers, he writes.

View Full Article in:

AmericanBanker.com (free registration)

Published in Brief: