Consumer Finance Group Applauds CFPB Overdraft Study, Calls for Action

Americans for Financial Reform Wants an End to “Abusive” Practice

As one major bank — Capital One — announced an end to the practice of charging overdraft fees, a leading consumer group is issuing a call for federal action to end the practice at all banks.

Americans for Financial Reform (AFR)is calling on the Consumer Financial Protection Bureau (CFPB) to use data from a study it conducted to draft rules that would essentially prohibit…