Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-in Practices, 89 Fed. Reg. 80,007 (Oct. 2, 2024)

Withdrawn by 90 Fed. Reg. 20,084 (May 12, 2025).  See NCLC, Continued Vitality of 67 Withdrawn CFPB Guidance Documents (May 13, 2025) (updated May 27, 2025).

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?’’