CFPB Looks To Regulate Overdrafts In 2017 – If It Still Can
PYMNTS
JANUARY 3, 2017
Some observers noted that revenue from overdraft fees now outpaces that from pawn shops, payday lenders and tax-refund anticipation cheques put together. “[Overdrafts] allow customers to spend money they don’t have — then punish them for it,” notes Josh Reich, co-founder and CEO of Simple, an online bank based in Portland, Oregon.
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