The considerations prescribed by the RFA strongly support strengthening protections against overdraft fees on debit card and ATM transactions. More broadly, comprehensive reform of unfair and abusive overdraft practices is badly needed.

The RFA sets forth five factors to consider in an RFA review. Consideration of these factors in the opt-in rule context shows clearly that any effort to weaken the rule would be unwarranted, and, rather, protections against overdraft abuses must be strengthened. Moreover, consideration of these factors make clear that the opt-in rule should not be weakened for smaller institutions. A weaker opt-in rule for smaller banks would cause harm, confusion, and anger for consumers in the marketplace, and harm small institutions themselves, as they would become known as less safe places to bank.

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