Overdraft protection continues to be a hot, high-risk area. Regulators have identified misleading and deceptive practices in examinations, including inaccurate and incomplete overdraft disclosures and deficient opt-in procedures. This webinar will analyze Truth in Savings and Regulation E disclosure requirements related to overdraft protection. Financial institutions throughout the country have become targets for class action lawsuits that allege improper overdraft practices, a lack of transparency and disclosure about the overdraft program, and failure to comply with the Electronic Fund Transfer Act and Regulation E.
Best practices for ensuring your institution has clearly described its overdraft protection program (and overdraft alternatives and ability to opt out) will be analyzed. Specifically, this webinar will examine the importance of disclosing and explaining your institution’s use of the available balance and how this impacts accountholders. By clearly explaining when overdraft/NSF fees will be charged, institutions can reduce compliance, UDAAP, and legal risk.
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session is designed for deposit, operations, compliance, and audit employees.
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.