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Matt Benz is a law clerk in the firm's Chicago office.

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On October 26, the CFPB issued guidance to help banks avoid charging illegal overdraft fees on consumer deposit accounts. In its Circular 2022-06, the Bureau stated that overdraft fees assessed by financial institutions on transactions that a consumer would not reasonably anticipate likely violate the CFPA. The CFPB further highlighted two particular categories of so-called “junk fees” that likely qualify as unfair and unlawful under the CFPA (we covered the CFPB’s focus on junk fees in previous blogs here and here):

Continue Reading CFPB Issues Latest Crack Down on Junk Fees

About

Matt Benz is a law clerk in the firm's Chicago office.

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