WASHINGTON (6/11/13)--The Consumer Financial Protection Bureau has released its report on overdraft protection plans, and while the report--embargoed until midnight this morning--expresses concern about the ability of consumers to avoid overdraft costs, it does not recommend regulatory changes or changes to business practices.
The bureau used more than 1,000 consumer-submitted comments, and its own data research, to compile the report.
Current checking account issues, information on opt-in rates and disclosures are also discussed in the CFPB release.
The Credit Union National Association is studying the report this morning. Watch News Now for a live update on its contents.
CUNA will clarify the following points, and more, with the CFPB: