Fees for Instantaneously Declined Transactions; Withdrawal of Proposed Rule

Document 2024-31385 is a Proposed Rule published by the Consumer Financial Protection Bureau in the Federal Register on January 14, 2025. The Consumer Financial Protection Bureau (CFPB) is withdrawing its proposed rule to prohibit banks and other financial institutions from charging certain nonsufficient funds (NSF) fees, such as those for declined debit card purchases, Automated Teller Machine (ATM) withdrawals, and some person-to-person payments. The CFPB will determine whether a more comprehensive approach to also prohibit NSF fees charged for additional types of transactions will better protect consumers from potentially unlawful fees. View the original at https://www.federalregister.gov/documents/2025/01/14/2024-31385/fees-for-instantaneously-declined-transactions-withdrawal-of-proposed-rule.

No. Document 2024-31385 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.