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Wednesday
Oct252023

What's New? Junk Fees - Guidance

DateWednesday, October 25, 2023 at 2:43PM by AuthorBanking Spectrum

The CFPB released  charged to customers for checking their account balances or getting updates on their loans. The CFPB’s new guidance reflects the agency’s interpretation of section 1034(c) of the Dodd-Frank Act. Banks and credit unions that fail to adhere to the guidelines could be subject to monetary penalties after Feb. 1, 2024.

Read more in The Gold Book.

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