Despite expectations that the CFPB would make overdraft fees a priority item, it appears that new overdraft rules or other CFPB action is not on the near horizon.  According to a report today by Carter Doughtery in Bloomberg News, CFPB Director Richard Cordray, in a conference call earlier this month with credit unions, indicated that the CFPB has not yet made any decisions about possible new rules and would continue to work on the matter “over the next couple of years.” He also indicated any CFPB action on overdraft fees will not occur without “plenty of advance discussion.” 

The CFPB’s last official action on overdrafts was to extend to June 29, 2012 the comment period on its February 2012 notice and request for information regarding the impact of overdraft programs on consumers. The request was one of several overdraft initiatives launched by the CFPB in February 2012.