Media Coverage

CFPB Overdraft Proposal Exempts the Small Banks that Need it Most

January 30, 2024

While small financial institutions with assets under $10 billion are exempt from the CFPB’s recently announced plan to slash overdraft fees, the proposed rule could still have significant implications for these exempt institutions, Kristen Larson explained to American Banker.

"I see no way for small banks not to be affected by this," she said. "They're regulating the larger banks, but the smaller ones lose leverage because of the regulation."

Ms. Larson is a member of Ballard Spahr's nationally recognized Consumer Financial Services Group.

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