NACA in the News: House votes to throw out consumer protection overdraft rule

Consumer Affairs, House votes to throw out consumer protection overdraft rule

“‘To keep up with the ever-changing consumer finance market, the Consumer Financial Protection Bureau issued a rule, which would have simply ensured that newer market players comply with existing law. But because these newer products, digital payment applications and digital wallets, are run by the largest and most powerful tech companies, our nation’s lawmakers folded and voted to reverse the rule,’ said Christine Hines, Senior Policy Director at the National Association of Consumer Advocates.”