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In December 2021, Capital One Bank announced it would no longer charge overdraft fees. One month later, Bank of America announced it would be eliminating NSF fees and reducing overdraft fees. This trend has continued with some of the nation’s largest banks (i.e. Citibank, Fifth Third) following suit. But why the sudden turn around and […]

Section 1071 of the Dodd Frank Act amended the Equal Credit Opportunity Act (ECOA) to require lenders to collect and maintain data on loan applications received from small businesses. The Consumer Financial Protection Bureau’s (the “CFPB” or “Bureau”) is expected to issue the final rule in March 2023.