Data / Federal rules / 2024-01688
Fees for Instantaneously Declined Transactions
The Consumer Financial Protection Bureau published this proposed rule in the Federal Register on January 31, 2024. Comments closed on March 25, 2024.
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What the agency says
The Consumer Financial Protection Bureau (CFPB) is proposing to prohibit covered financial institutions from charging fees, such as nonsufficient funds fees, when consumers initiate payment transactions that are instantaneously declined. Charging such fees would constitute an abusive practice under the Consumer Financial Protection Act's prohibition on unfair, deceptive, or abusive acts or practices.
Key facts
- Document number
- 2024-01688
- Type
- Proposed rule
- Action
- Proposed rule; request for public comment
- Agency
- Consumer Financial Protection Bureau
- Published
- January 31, 2024
- Comments due
- March 25, 2024
- Dates
- Comments must be received on or before March 25, 2024.
- Docket
- Docket No. CFPB-2024-0003
- Regulation ID (RIN)
- 3170-AB16
- Code of Federal Regulations
- 12 CFR 1042
- Topics
- Banks, banking; Consumer protection; Credit; Credit unions; Electronic funds transfers; Savings associations; Trade practices
- Pages
- 21
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| Small Business Lending Under the Equal Credit Opportunity Act (Regulation B) 2026-08494 · significant | Final rule | May 1 |
| Equal Credit Opportunity Act (Regulation B) 2026-07804 · significant | Final rule | Apr 22 |
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| Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold 2026-00087 | Final rule | Jan 7 |
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Everything from the Consumer Financial Protection Bureau · Rules on banks, banking · Rules on consumer protection · Rules on credit · Published in January 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.