Date: July 16, 2014
Time: 3:00pm - 4:30pm
Overdraft protection programs continue to be intensely scrutinized by regulators. In addition to complying with the specific laws and regulations, your credit union also needs to evaluate whether any aspect of its overdraft protection program might constitute an unfair, deceptive, or abusive act or practice. The CFPB issued a report on overdraft programs in June 2013, making them a top priority. If that wasn’t enough, member complaints and regulatory enforcement actions are increasing in this area. This webinar will explain the issues and problems with overdraft protection programs, the current legal and regulatory requirements, and the steps your credit union can take to protect itself.
Continuing Education: Attendance verification for CE credits upon request
- How and when to properly disclose overdraft and returned item fees
- Regulation E opt-in disclosure requirements for ATM and debit cards
- Advertisement restrictions
- Distinction between an automated overdraft program versus an ad hoc overdraft program
- When daily limits and de minimis thresholds are appropriate
- When the credit union is required to inform members of other available alternatives
- TAKE-AWAY TOOLKIT
- NCUA guidance on overdraft protection programs
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for individuals that handle overdrafts, such as deposit operations personnel, member service representatives, credit union officers, managers, compliance staff, auditors, and attorneys.
Webinar content is subject to copyright and intended for your individual credit union’s use only.