Not to show my age, but like many, I happen to be a child of the 90s. I was reminded of that this past weekend when an “I Love the 90s” group of recording artists performed at our Iowa State Fair. Among the list of musicians performing their 90’s hits were Young MC (“Bust A Move”), Tone Loc (“Wild Thing”), Coolio (“Fantastic Voyage”), Salt N Pepa (“Push It”), and Vanilla Ice (“Ice Ice Baby”). Unfortunately I was unable to attend and relive my past, but I heard they put on a great show…especially for those who are nostalgic about the wonderful 90’s.

Recounting my days of past and my days of present, I can’t help but wonder why Warren G was not on stage performing “Regulate?” Back in the early 90s it was just a cool song to hear on the radio or while out cruising in the Monte Carlo.  In the present, one of the opening lines of Mr. G’s song speaks so true to our industry today, “regulators mount up!” Well, regulators are mounting up again with a remix of one of their past hits, “Know Before You Owe”.

This time, the “Know Before You Owe” initiative contains beats and lyrical verses for overdraft disclosures (sorry for all these musical puns). On August 4^th, the Consumer Financial Protection Bureau (CFPB) dropped an exclusive track of disclosure prototypes “designed to improve the model form that banks and credit unions already provide to consumers weighing overdraft coverage.”

continue reading »