On Wednesday, January 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced a Proposed Rule aimed at blocking nonsufficient funds (NSF) fees on debit card, ATM, and certain peer-to-peer payment transactions that financial institutions decline in real time.
In January 2024, the Consumer Financial Protection Bureau issued two proposed rules that, if implemented as written, would result in further whittling down overdraft or non-sufficient funds fees.
This edition of Fintech Flash identifies key issues we anticipate will impact the payments industry in 2024. First, the payments regulatory landscape continues to evolve, with a number.
As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions. .
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