A banking entity settled charges with the OCC and the CFPB for assessing multiple overdraft fees on customers’ accounts. The banking entity also settled charges with the CFPB for withholding credit card rewards from consumers and opening accounts without consumers' consent.
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In remarks before the Consumer Federation of America's 34th Annual Financial Services Conference, Acting OCC Comptroller Michael Hsu identified changes to banks' overdraft programs that would benefit lower-income individuals.
The Office of the Comptroller of the Currency published an updated list of permissible activities for national banks and federal savings associations.
The OCC proposed the removal of unnecessary provisions of certain rules in order to reduce the regulatory burden on national banks and federal savings associations.