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ABA: The American Bankers Association
Compliance News

CFPB Proposes Methodology for Review of Rules under the RFA and Review of the 2009 Overdraft Rule

The Bureau published two proposals: a request for comment on its proposed methodology for review of rules under the Regulatory Flexibility Act (RFA), and a request for comment on its first RFA review of the 2009 Overdraft Rule. The purpose of the periodic review of rules under the RFA is to minimize any significant economic impact of the rules upon a substantial number of small entities, consistent with the objectives of applicable statutes. The CFPB also announced the launch of its first RFA review, which is the 2009 Overdraft Rule.