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CFPB building case for overdraft rulemaking
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Banking, Consumer Protection
Wednesday, August 6, 2014
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The Consumer Financial Protection Bureau released another report highlighting the agency’s concerns about overdraft services. Richard Cordray, the bureau’s director, said the CFPB’s latest report shows that consumers who opt in to overdraft coverage put themselves at “serious risk” when they use their debit cards. Read on to learn about the report and what the bureau has said about the possibility of an overdraft rulemaking.
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