Friday, October 2, 2015

Bank and CU Trade Groups Call on the Bureau to Release Draft Overdraft Protection Survey

Five trade groups representing banks and credit unions on September 30 called on the Consumer Financial Protection Bureau (Bureau) to release and accept comments on a draft survey as part of its proposed study of overdraft protection services.

The Bureau said it planned to conduct a survey of 8,000 individuals but did not release the draft survey with its proposal as federal guidance requires.

The trade groups wrote: "[W]e are concerned that the Bureau did not include in its submission to the Office of Management and Budget (OMB) a draft survey instrument on which the public could comment, despite OMB guidance requiring publication of the survey simultaneous with the Bureau’s request for comment. We urge the Bureau to re-submit its information collection request with the draft survey instrument."

The five trade associations signing the letter are the American Bankers Association, the Consumer Bankers Association, the Financial Services Roundtable, the Independent Community Bankers of America, and the National Association of Federal Credit Unions.
Posted by at
Labels:

1 comment:

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.