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Potential actions of the CFPA include warning consumers who use debit cards or ATM machines that doing so would overdraft their account; prohibiting charging for overdraft coverage under a plan unless the consumer has "Opted in" to the plan; and limiting the types of credit cards and mortgages that are made available to consumers. Financial innovation has outpaced regulation. Much of the U.S. regulatory structure dates back to the 1930s. The last three decades have seen an explosion of new financial products and services.
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