The Consumer Financial Protection Bureau (CFPB) has decided not to take severe action just yet to tighten rules on checking overdraft fees. CFPB director Richard Cordray said no decisions have been made about new rules but indicated that the agency will work on the matter “over the next couple of years.” Consumer groups want tougher overdraft rules, arguing that a 2010 Federal Reserve rule requiring banks to secure consumer consent before charging the fees did not go far enough. "Overdrafts are rife with predatory features: they are high-priced, short-term and repaid directly from customers' accounts," declared Rebecca Borne of the Center for Responsible Lending (CRL). "None of that has changed." The organization believes that about a third of U.S. consumers are choosing overdraft services under the Fed rule; while Moebs estimates the opt-in rate on the high end at 77 percent and the Consumer Bankers Association puts it at the low end at about 17 percent. Cordray also said that the CFPB is considering whether conflicting rules from different federal regulators harms oversight of overdraft fees.