Following the 2020 U.S. election, legislative priorities are expected to shift with a stronger focus on protecting consumers personal finances, establishing stricter disclosure requirements, and changing, or eliminating, overdraft fees. These actions will have a significant impact to the operations and income for credit unions.
In this webinar, the speakers explore key sections of two bills sitting in the House and the Senate related to the Stop Overdraft Profiteering Act of 2019. In addition to these two pieces of legislation, they also review the related CFPB’s recommendations as outlined in the Federal Consumer Financial Law Report.
The webinar discusses the potential changes and impact to credit unions as well as ways to get ahead of these changes to minimize the burden on overhead and reduce the financial impact. With the decline in interest income resulting from the pandemic, it’s more important than ever to get ahead of these issues and ensure your long-term viability.