In December of 2024, the CFPB announced the Overdraft Rule, which requires that consumers be provided with clear and understandable rules when banks offer them overdraft protections. However, a challenge seeking to block the rule from being enforced was filed before the rule was formally published. 

While the rule has been defended against this challenge by the CFPB, President Trump has repeatedly opposed the work of the agency, his advisors have stated that the CFPB should be shut down entirely, and the Overdraft Rule, in particular, should be rescinded. 

On February 4th, MyPath and Mississippi Center for Justice filed a motion to intervene in the U.S. District Court for the Southern District of Mississippi, seeking to defend the CFPB’s Overdraft Rule from a challenge brought by a group of financial institutions and groups that lobby on their behalf. On March 5, 2025, the motion to intervene was granted.

The challenge, Mississippi Bankers Association et al. v. Consumer Financial Protection Bureau et al., seeks to stop a CFPB rule that would prevent special interests from pushing for practices detrimental to average consumers. 

The coalition seeking to intervene in the case to defend the law is represented by Democracy Forward, the Mississippi Center for Justice and the National Consumer Law Center. 

On April 4, the coalition filed in support of a motion for a preliminary injunction. The court has not yet issued a ruling on this motion.

This case is still ongoing, and the parties will continue defending their positions while the case develops.

Case: Mississippi Bankers Association et al v. Consumer Financial Protection Bureau et al