Comment Letter to Federal Banking Regulators, on Unauthorized Debits by Payday Lenders
September 29, 2014
The Honorable Janet L. Yellen, Chairwoman Board of Governors regarding the Federal Reserve System Street that is 20th and Ave., NW Washington DC 20551
The Honorable Richard Cordray, Director Customer Financial Protection Bureau 1700 G Street NW Washington, DC 20552
The Honorable Tom Curry, Comptroller workplace regarding the Comptroller for the Currency 250 E Street SW Washington, DC 20219
The Honorable Martin Gruenberg, Chairman Federal Deposit Insurance Corporation 550 seventeenth Street Northwest Washington, DC 20429
The Honorable Debbie Matz, Chairwoman Nationwide Credit Union Management 1775 Duke Street Alexandria, VA 22314-3428
Jan Estep, President and Chief Executive Officer NACHA — The Electronic Payments Association 13450 Sunrise Valley Drive, Suite 100 Herndon, VA 20171
Re: RDFIs’ duties to customers stop-payment that is regarding, unauthorized charges, associated costs, and requests to close reports
Dear Chairwoman Yellen, Director Cordray, Comptroller Curry, Chairman Gruenberg, Chairwoman Matz and President Estep:
The undersigned groups compose to inquire about you to definitely do something to deal with systematic issues that consumers have due to their banking institutions as soon as the customer tries to stop preauthorized along with other re re payments, to stop or reverse illegal or unauthorized costs, or even to shut their account.