Board of Directors
NAFCU Employment Opportunities
Become a NAFCU Member
NAFCU is the only trade association focused solely on the needs of federal credit unions.
Become a member
Legislative & Regulatory Issues
Credit Union Tax Exemption
Annual Privacy Disclosure Notices
Member Business Lending
Defense Credit Union Issues
Housing Finance Reform
CFPB's Qualified Mortgage Definition
Regulatory Comment Letters
Legislative Policy Letters
Beltway Buzz Enewsletter
The Regulatory Affair Enewsletter
Grassroots Action Center
Upcoming Live Webcast: Congressional Midterm Elections and the Credit Union Impact
Learn More and Register
Regulation & Compliance
Contact the Compliance Team
Compliance Resources Search
CFPB Mortgage Rules Compliance
Monthly Compliance Enewsletter
Quarterly BSA Enewsletter
Book of Answers
Compliance GPS Manual
NAFCU Compliance Blog
Additional Compliance Resources
Compliance Certification Program
Become an NCCO
Purchase or Retake Exams
Maintaining Your NCCO
Submit Non-NAFCU Programs for Credits
NCCO Program Frequently Asked Questions (FAQs)
NCCO Compliance Support Package for State-Chartered CUs
The most comprehensive credit union compliance training from A to Z.
Go to School
Data & Research
Economic & Credit Union Industry Trends
CU Industry Trends Quarterly Report
Economic and CU Research Enewsletter
Macroeconomic Data Flash Reports
NAFCU Annual Report on Credit Unions
Credit Union Federal Tax Exemption Study
Participate in Credit Union Research Surveys
Measure Your CU Financial Performance
Credit Union Capital Management Tools
CU Data & Research Publications
Economic Data & Forecast Web Links
Don't miss this month's Economic & CU Monitor. Featuring a special section on data security.
Education & Conferences
Strategic Growth Conference
Regulatory Compliance School
CEOs and Senior Executives Conference
Board of Directors and Supervisory Committee Conference
Annual Conference and Solutions Expo
Risk Management Seminar
Management and Leadership Institute
Regulatory Compliance Seminar
Online Training Center
Live and On-Demand Webcasts
Compliance Webcast & Online Training Subscription
Board of Directors and New Staff Online Training Subscription
Management and Leadership Series
Online Training Center All Access Pass
Certification & Training Certificates
NAFCU Certified Compliance Officer (NCCO) Program
Financial Literacy Training Certificate
BSA Training Certificate
Supervisory Committee Training Certificate
Credits for CPAs
Advertise & Exhibit
Boost your credit union’s revenue.
About NAFCU Services
Preferred Partners A-Z
Growth and Retention
Financial and Insurance
Infrastructure and Operations
Training and Compliance
Live Webinar Schedule
NAFCU Services Blog
Become a Preferred Partner
Browse free educational resources for credit unions.
Visit the Partner Library
CFPB notes continued look at overdraft
CFPB notes continued look at overdraft
CFPB released its report yesterday on banks' overdraft services.
Aug. 1, 2014 – CFPB said Thursday that it will conduct more studies on how overdraft services are working for consumers and that it continues to look into the possibility of a future rulemaking.
The bureau released a
Thursday that looked at the overdraft services provided by large banks within its supervisory authority – that is banks with more than $10 billion in assets. It found that most debit-card overdraft fees are incurred on transactions involving $24 or less and that the majority of them are repaid within three days.
CFPB noted exorbitant nature of a $34 fee charged on a $24 overdraft that is repaid in three days. However, it also notes that it didn’t think the sampling for the study was fully representative of the checking account market overall.
Bankrate.com’s 2014 study on checking shows that the most common overdraft fee charged by credit unions is $25.
also shows that 72 percent of the 50 largest credit unions charged no monthly service fees or point-of-sale transaction fees, regardless of account balance. By 38 percent of banks offered the accounts for free last year.
In reporting its survey, Bankrate quoted Carrie Hunt, NAFCU’s senior vice president of government affairs and general counsel, noting the value credit unions and their members place on ensuring free checking.
NAFCU is closely following CFPB’s work on the overdraft issue for any potential impact on credit unions’ ability to provide members continued, affordable services.
NCUSIF at 1.25%; charter expansion OK’d
NCUA: No future corporate stabilization assessments expected