The American Bankers Association is voicing concerns that the CFPB – not depository institutions – should pay the steep cost of gathering information as part of its expansive rulemaking on overdraft protection services. In a recent memo to state banking associations, the ABA noted that back in November, the CFPB ordered three financial services core processors – Fiserv, FIS Global, and Jack Henry – to provide significant amounts of information and anonymized data about the overdraft program services each processor provides to depository institutions and the configurations of those services.“Fiserv has informed its clients that it is ‘tracking [its] costs carefully with the likelihood that these will be passed through to [its] clients on [its] hosted bank platforms,’” the memo stated. The other ...