Making a withdrawl at an ATM. The CFPB seeks comments on whether to change its overdraft rule for ATM and debit card transactions. (Image: Shutterstock).

Overdraft services are essential for some credit union members, trade groups said, asking the CFPB not to take any additional action to restrict them.

But the head of New York City’s Department of Consumer Affairs said the services amounts to just another type of predatory lending.

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Credit Union Times

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