The California and Nevada Credit Union Leagues has provided an analysis for credit unions detailing the ongoing rise in regulatory, administrative, and legislative actions (along with a fresh wave of demand letters and class-action lawsuits) in relation to recent developments in overdraft protection and non-sufficient fund (NSF) fees practices.
These revolve around allegations that specific overdraft, returned deposit item, and NSF fees and practices are unfair, deceptive, abusive, or otherwise unlawful.
The intention of this communication is to inform credit unions of recent developments and provide an update on measures the Leagues are taking to tackle these challenges.
