Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-in Practices, 89 Fed. Reg. 80,007 (Oct. 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 onetime debit card transactions?’’