CR letter urging the Consumer Financial Protection Bureau to strengthen consumer protections against costly overdraft fees

SUMMARY:  The Consumer Financial Protection Bureau is currently reviewing a rule adopted by the Federal Reserve that requires banks to get their customers’ affirmative consent before enrolling them in costly overdraft programs for ATM transfers and one-time debit card transactions.  CR’s letter calls on the CFPB to retain the Fed’s rule and strengthen it to ensure consumers are adequately protected.