Later this week, HFSC will hold a hearing on overdrafts designed to get any laggards still charging them to heed Director Chopra’s threats and abandon these fees no matter what this does to their bottom line. This case is yet another proof of the power of regulatory threat even in the absence of express regulatory action that the agency’s director and some bank regulators are not loathe to use. However, the CFPB is taking no chances with still broader initiatives to redesign retail finance in line with the agency’s new paradigm in which retail finance aims at the public good, not private profit. As we detailed in our assessment last week of the CFPB’s new examination manual (see FSM Report CONSUMER39), the agency has reformulated its approach to unfair, deceptive, or abusive acts or practices (UDAAPs) to make it a powerful weapon against pretty much anything it doesn’t like.