Letter in Support of House Resolution to Roll Back CFPB’s Overdraft Rule

ICBA and other groups sent a comment letter to Rep. French Hill (R-Ark.), chairman of the House Financial Services Committee, in support of H.J.Res. 59, a resolution to disapprove the Consumer Financial Protection Bureau’s final rule on overdraft protection programs. ICBA and the other groups said overdraft protection services provide a needed form of short-term liquidity for millions of Consumers, and the rule goes well beyond the agency’s statutory authority.