CFPB Expected to Finalize Certain Bank Regulations in January

Published on January 5, 2024

The CFPB is expected to finalize rules on overdraft fees, insufficient funds and credit card late fees later this month. The CFPB’s rule on credit card late fees would cap late fees at $8, down from the current industry average of $30 for a first-time offense. The CFPB is also expected to finalize a proposal to amend Regulation Z to reign in overdraft practices and insufficient funds fees.