The CFPB has announced that it will be holding a town hall in New York City on February 22 “to talk about checking accounts.” While the notice contains no information about the issues to be discussed, we expect the focus will be on fees and disclosures. As we previously reported, the CFPB has been urged by Senate Democrats to require standardized disclosures for checking accounts. Checking account overdraft fees and disclosures have also been identified in comments by CFPB officials as areas requiring attention and the CFPB has said that it intends to expand its on-line complaint system to take complaints about deposit accounts.
