The hosts discuss the recent announcement by the Consumer Financial Protection Bureau regarding overdraft protection and how it aims to target high fees charged by banks, potentially saving consumers $3.5 billion. They also highlight the impact on banks, who make around $9 billion annually from overdraft fees, and mention that the proposal allows banks to recoup their costs through reasonable interest rates or fees.
Regional banks are facing strong competition in the battle for your dollars.
(00:21) Matt Frankel and Deidre Woollard discuss:
- How new rules could change what you pay in overdraft fees.
- Why banks are socking away money for credit losses.
- The potential advantage for regional banks.
(17:31) Asit Sharma and Mary Long take a medium dive into Paycom and discuss a product that could be too good for its own good.
Companies discussed: TFC, DFS, USB, WFC, PAYC, JPM, PAYX, PCTY, ADP, ORCL
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Host: Deidre Woollard
Guests: Asit Sharma, Matt Frankel, Mary Long
Producers: Ricky Mulvey, Mary Long
Engineer: Dan Boyd
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