The CFPB reviewed unanticipated overdraft fee assessment practices and concluded that surprise overdraft fees and surprise depositor fees are "likely unfair and unlawful under existing law."
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The DOL issued guidance on a February 2021 exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code.
The Congressional Research Service provided an overview of "selected banking-related issues that may attract congressional interest in the 117th Congress."
A DOL class exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and the Internal Revenue Code went into effect on February 16, 2021.
The CFPB Taskforce on Federal Consumer Financial Law offered recommendations on enhancing consumer protection in the financial marketplace.