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NAFCU on Monday submitted a Freedom of Information Act request to CFPB seeking supporting documentation on the bureau's findings on overdraft practices, with a particular focus on practices the bureau deems "consumer-friendly" and not deceptive.

Alicia Nealon, NAFCU's director of regulatory affairs, said the association has members that have successfully developed and implemented overdraft protection policies tailored to their unique consumer bases. "In implementing these overdraft protection programs, NAFCU's members strive to provide appropriate protections as well as necessary disclosures about the programs' requirements and costs," she wrote.

Given credit unions' concern for ensuring appropriate programs, Nealon sought more information on what was behind the review that culminated in last week's issuance of CFPB's Supervisory Highlights report. That report identified some practices CFPB says are in violation of the Dodd-Frank Act. Nealon is seeking information about what CFPB does approve of under current law.

Nealon asked for "all relevant documentation" – reports, research, memorandums between staff, etc. – regarding CFPB's study of overdraft protection, "with a particular focus on practices that the Bureau believes are consumer-friendly and would not be deceptive practices."

NAFCU, which supports transparency on information related to credit unions' regulatory responsibilities and costs, has previously filed FOIA information requests related to NCUA's budgeting and its management of its four permanent funds.