Democratic Congresswoman Carolyn Maloney of New York sent a letter to Director Cordray yesterday urging the CFPB to limit overdraft fees and expand opt-in requirements as part of a proposed overdraft rule. 

In calling for overdraft fee limits, Ms. Maloney referenced the report issued by the CFPB this past July which found a median overdraft fee of $34 and a median amount of debit card transactions leading to an overdraft fee of $24.  … Continue Reading