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Research & Analysis

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  • Overdraft Does Not Meet the Needs of Most Consumers

    Overdraft programs are often marketed as a service that banks provide to cover occasional budgeting errors, but in practice they are not well understood by consumers and often fail to meet their needs. The Consumer Financial Protection Bureau requires banks to receive affirmative consent (opt in) from customers before providing overdraft coverage for ATM withdrawals and one-time debit... Read More

  • New Federal Payday Lending Rule Offers Protections for Consumers

    In October, the Consumer Financial Protection Bureau (CFPB) finalized a regulation for conventional payday loans and auto title loans of up to 45 days. Research by The Pew Charitable Trusts has shown that such loans harm consumers because paying them off costs a third of the typical borrower’s next paycheck, leaving borrowers unable to cover basic expenses without reborrowing, which leads... Read More

  • Arbitration Rule Aims to Preserve Financial Consumers’ Access to Courts

    The Consumer Financial Protection Bureau (CFPB) finalized a rule in early July that will protect consumers’ rights to bring class-action lawsuits—in which plaintiffs band together to seek resolution through the civil justice system—against financial institutions. The rule prohibits banks from including in financial agreements mandatory predispute arbitration clauses with... Read More

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Benny Martinez

Officer, Communications