Delaware federal district court holds use of overdraft notice template did not shield credit union from Regulation E or state law liability
CFPB Monitor
JULY 26, 2022
A Delaware federal court has refused to dismiss a class action complaint filed against a credit union that alleges the credit union violated Regulation E and the Delaware Consumer Fraud Act (CFA) even though the credit union’s overdraft opt-in notice tracked the language in the Regulation E model notice.
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