“Consumers should continue to have the ability to opt-in for debit card overdraft coverage to avoid the inconvenience and embarrassment of a rejected debit card transaction. That said, ICBA adamantly opposes any CFPB rulemaking that limits the consumer’s choice on how they manage their accounts.”

ICBA sent letters to Congress in support of Sen. Mike Crapo’s (R-Idaho) and Rep. Keith Rothfus’s (R-Pa.) Congressional Review Act resolutions, which seek to reverse the Consumer Financial Protection Bureau’s (CFPB) final ruling restricting the use of consumer arbitration agreements.

ICBA today voiced support for the Federal Reserve Faster Payments Task Force’s final report detailing its ten recommendations to enhance the speed, efficiency and security of the U.S. payment system. ICBA and community bankers were active participants in the Task Force.