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CFPB takes aim at ATM, debit card fees

Payments Dive

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

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The Final CFPB Prepaid Card Rule Is Here (Expect Controversy)

PYMNTS

The cards are largely associated with the 10 million or so unbanked families in the U.S. as one of their primary tools of financial management — since prepaid cards can be used in ways essentially analogous to debit cards for payments, funds storage, cash-outs at ATMs or receipt of salary. More Controversial .

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CFPB To Review Fed’s 2009 Overdraft Rule

PYMNTS

The Consumer Financial Protection Bureau (CFPB) announced that is reviewing the Federal Reserve ‘s overdraft protection rule to find out if it “should be amended or rescinded” to minimize “any significant economic impact” to small businesses (SMBs) and credit unions.

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Reg E in Focus: CFPB Enforcement and Compliance Tips

Innovative Payments Association

Regulation E, also known as the Electronic Fund Transfer Act, is a federal regulation that governs electronic transfers of funds, such as ATM transactions, debit card transactions, and direct deposits. In some cases, companies have been ordered to pay restitution to affected consumers and civil penalties to the CFPB.

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Santander Gets Hit With Fine Due To Overdraft Practices

PYMNTS

“Santander tricked consumers into signing up for an overdraft service they didn’t want and charged them fees,” said CFPB Director Richard Cordray in announcing the fine. That’s in addition to the $10 million penalty imposed by the CFPB. We will put a stop to any such unlawful practices that harm consumers.”.

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Understanding Overdraft Programs (Part 1)

FICO

Courtesy overdraft is a service offered with a deposit account to provide liquidity to a bank customer when their balance has insufficient funds to cover incoming payments from a debit card, ATM, check or an ACH (Automated Clearing House) payment. Pommerehn: It’s hard to say.

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Court approves $197M ATM settlement

Payments Dive

Published June 24, 2025 Justin Bachman Senior Reporter post share post print email license A Bank of America ATM machine on July 18, 2022 in Miami, Florida. District Judge Richard Leon covers ATM operators and millions of consumers in separate cases that were handled in the U.S. The class-action settlement endorsed by U.S.

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