Click Cover to Read Digital Edition

AVAILABLE IN THE APP STORE
iPAD APP
iPHONE APP

UPCOMING EVENTS

 
Card Forum & Expo
April 22-25
Hilton Orlando Bonnet Creek
Orlando, Fla.
 
EMERGE: The Forum on Consumer Financial Services Innovation
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
Digital Banking Summit
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
2014 RDC Summit
Sept. 30 - Oct. 2
Las Vegas
 
ATM, Debit & Prepaid Forum
October 19-22
JW Marriott Desert Ridge
Phoenix
 
Money2020
November 2-6
Aria
Las Vegas
More events >  

Share |

Print Friendly and PDF

ICBA Statement Regarding CFPB Report on Overdraft Services

 

June 12 - The Independent Community Bankers of America has released the statement below following the announcement of a new report issued by the Consumer Financial Protection Bureau regarding overdraft services.

“The CFPB's report on overdraft payment services acknowledges consumer value of overdraft programs, which were created to meet the customer demand for these services. Because many consumers seek the convenience and protection that overdraft coverage offers, community banks offer a variety of services tailored to the specific needs of their customers. These services are an extension of community banks’ commitment to provide the highest level of customer service.

“As ICBA showed in its ICBA Overdraft Payment Services Study released in June 2012, community banks inform customers of alternatives to overdraft payment services, structure their services to minimize the potential for overdraft fees and strive to minimize overdraft fees for their customers.

“Regulatory policy and oversight should not impede a bank’s ability to offer a variety of overdraft payment services to meet their customers’ financial needs. Consumers must retain the ability to access overdraft services that best fit their unique financial needs and avoid being locked into an ill-fitting ‘one size fits all’ overdraft program. ICBA looks forward to continuing its ongoing communications with the CFPB on overdraft payment services and other issues affecting community banks and the communities they serve.”

For more information, visit www.icba.org.

 

 


Back