ABA Seeks Feedback for Final EGRPRA Comment Letter (2/9/16)
As the regulators wind down their decennial Economic Growth and Regulatory Paperwork Reduction Act review of outdated and burdensome regulations, ABA is asking bankers one last time for help identifying unnecessary or outdated banking regulations. The final letter of this EGRPRA review is due by March 22 and can cover any bank statute or regulation, with the exception of rules transferred to the CFPB. For more information, or to provide input, contact ABA’s Shaun Kern.
Bureau Uses Bully Pulpit on Overdraft, Checking Account Screening (2/8/16)
The Consumer Financial Protection Bureau announced several actions and statements that it said would facilitate customer access to checking accounts. It wrote to large banks urging them to offer overdraft-free checking options and issued a bulletin reminding financial institutions of accuracy requirements when reporting customer information to checking history databases used to screen consumers.