Home / Agencies / CFPB / 2024-22551
Final Rule

Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices

Agency
CFPB
Document Number
2024-22551
Published
October 2, 2024
Effective Date
-

Abstract

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024-05, titled "Improper Overdraft Opt-In Practices." In this circular, the CFPB responds to the question, "Can a financial institution violate the law if there is no proof that it has obtained consumers' affirmative consent before levying overdraft fees for ATM and one-time debit card transactions?"

Federal Register Source

This document is published by the Office of the Federal Register, National Archives and Records Administration. Access the full regulatory text, preamble, and docket comments below.

View Full Text on FederalRegister.gov →

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Frequently Asked Questions

What is the 2024-22551 Federal Register document?
Document 2024-22551 is a Final Rule published by the Consumer Financial Protection Bureau in the Federal Register on October 2, 2024. The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024-05, titled "Improper Overdraft Opt-In Practices." In this circular, the CFPB responds to the question, "Can a financial institution violate the law if there is no proof that it has obtained consumers' affirmative consent before levying overdraft fees for ATM and one-time debit card transactions?" View the original at https://www.federalregister.gov/documents/2024/10/02/2024-22551/consumer-financial-protection-circular-2024-05-improper-overdraft-opt-in-practices.
Is document 2024-22551 an economically significant rule?
No. Document 2024-22551 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.

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