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As CFPB Reviews Overdraft Rules, UK Regulator Makes Pro-Consumer Changes

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

As the CFPB conducts a ten-year regulatory review of the Overdraft Rule established by the pre-CFPB regulators in 2010, the UK's Financial Conduct Authority has announced sweeping changes to address what it calls a "dysfunctional" overdraft market. The US system prohibits overdraft fees on debit and ATM transactions unless you opt-in to fee-based "standard overdraft protection," but the fees average over $32 per overdraft and CFPB has accused some banks of deceptive marketing of the service. Meanwhile, the UK's FCA is banning fixed fee overdrafts and requiring UK banks to treat overdrafts as loans subject to reasonable interest rates. We've asked CFPB to ban overdrafts on debit and ATM transactions.

Here’s how manufacturers argue against repair.

By | Nathan Proctor
Director, Campaign for the Right to Repair

In March, the FTC announced a new workshop called “Nixing the Fix,” which will investigate how companies “limit repairs by consumers and repair shops and whether those limitations affect consumer protection, including consumers’ rights.” Last week, the FTC posted submitted comments for it's Nixing the Fix workshop, and by reviewing those comments, it's clear that manufacturers and their lobbying associations are doubling down on their arguments.

America needs to kick its highway habit

By | Matt Casale
Director, 21st Century Transportation Campaign

States across the country are still spending billions of dollars every year widening highways, usually in the name of congestion relief. These dollars are not being well spent. The projects don’t do a good job reducing traffic, but they do exacerbate the very real safety, health and environmental problems with our transportation system.

What does “compostable” mean?

By | Alex Truelove
Director, Zero Waste Campaign

This product is certified compostable. Increasingly, this phrase is appearing on a variety of everyday goods -- from paper coffee cups and plastic forks to molded pulp packaging.

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