Following Senator Reverend Warnock's Urging, CFPB Announces Termination of Overdraft Loophole, Potentially Saving American Families Billions
December 13, 2024
December 13, 2024
WASHINGTON, Dec. 13 -- Sen. Raphael G. Warnock, D-Georgia, issued the following news release:
The Consumer Financial Protection Bureau's (CFPB) finalization of the rule is estimated to save Georgians and Americans up to $5 billion each year, or roughly $225 per household
The loophole exempted overdraft loans from lending laws
At a recent Senate Banking committee hearing, Senator Reverend Warnock urged CFPB to close this loophole
Senator Re . . .
The Consumer Financial Protection Bureau's (CFPB) finalization of the rule is estimated to save Georgians and Americans up to $5 billion each year, or roughly $225 per household
The loophole exempted overdraft loans from lending laws
At a recent Senate Banking committee hearing, Senator Reverend Warnock urged CFPB to close this loophole
Senator Re . . .