New overdraft rules are expected after a release of a report from the Consumer Financial Protection Bureau and are likely to have an uneven impact across the banking industry.
A spokeswoman for the consumer agency says the CFPB will release a report later this spring detailing how overdraft rules might be restricted further.
Proactive banks that have tried to anticipate regulations may be impacted less, while those banks that have not yet adapted could be forced into making significant changes to their programs.
"Consumer groups are pushing the agency to require improved disclosures, to ban the reordering of transactions from high amount to low amount, and to require that overdraft fees be proportional to the bank's costs," writes American Banker's Kevin Wack.
After the CFPB, created under the Dodd-Frank Act, announced they were inquiring about overdraft programs, Bureau officials said the agency planned to explore whether banks were providing confusing information about overdraft fees, as well as whether consumers were receiving misleading marketing materials.
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