Other consumer protections The Federal Reserve has been active in issuing regulations governing other consumer products as well. We implemented new rules that will help students shop intelligently for student loans. 4 We implemented provisions in the CARD Act that apply to gift cards and marketing of credit cards to students.
5 We also issued new regulations that prohibit automatic enrollment in overdraft programs, requiring that consumers opt in before they can be charged for overdrafts created by ATM withdrawals and one-time debit card transactions. Furthermore, banks will be required to offer the same account fees and features to customers regardless of whether they opt in to coverage for debit overdrafts.