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ODP: Have there been changes?

Question: 
Has the CFPB issued any regulations concerning overdraft payment programs?
Answer: 

Not directly. We still expect to see some sort of rulemaking on overdraft payment programs from the Bureau, perhaps in 2017. In the meantime, there are some hints of Bureau thinking in its final rule on consumer protections for prepaid accounts, which includes some challenges for issuers who allow overdrafts of prepaid accounts.

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Learn more about John Burnett’s webinar Annual OPERATIONS Compliance Recap

First published on 12/11/2016

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