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In an amicus curae brief filed in the U.S. Court of Appeals for the Fourth Circuit, the CFPB supported plaintiffs in their appeal of a dismissal of a class action against a major commercial bank for allegedly mismanaging the distribution of government benefit prepaid cards during the COVID-19 pandemic.

Based on two new research reports, the CFPB will increase supervision of banks that are heavily reliant on overdraft fees and "will be taking action to restore meaningful competition to this market."