Overdraft Risks & Five Best Practices

Collections Compliance Frontline & New Accounts Lending Operations Security & Fraud

On-Demand Webinar

StreamedNov 14, 2023Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Regulators have shown keen interest in overdraft protection plans (ODPs) lately.

Compliance is key to avoiding reputational, compliance, and litigation risks. But how can you evaluate ODP UDAAP risks? This webinar will closely examine ODPs, which are considered a target for potential UDAAP violations, and provide five best practices to keep your institution on the straight and narrow.

AFTER THIS WEBINAR, YOU’LL BE ABLE TO:

Avoid potential UDAAP (unfair, deceptive, or abusive acts or practices) landmines and identify what is likely to be considered deceptive, unfair, or abusive
Identify five best practices for overdraft compliance
Use regulatory guidance to understand the requirements
Define best practices to avoid potential penalties and consumer harm
Explain the opt-in/opt-out documentation and procedures
Evaluate overdraft marketing programs for compliance

WEBINAR DETAILS

Overdraft services are always a likely target for supervisory scrutiny. In addition to more formal guidance, regulatory pronouncements have come through reports, blog posts, complaint discussions, and speeches. Regulators have issued significant civil money penalties for “representment” practices and other “deceptive” practices. In addition, numerous class action suits have been filed against financial institutions for ODP practices. Join us to learn how financial institutions can offer overdraft services while ensuring compliance.

WHO SHOULD ATTEND?

This session will benefit staff involved in deposit product development and marketing, compliance officers, auditors, managers, sales and service staff, call center employees, and anyone who is involved in deposit product sales.

TAKE-AWAY TOOLKIT

Regulatory resources for ODP exam procedures and bulletins
Resources for consumer education
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

Presented By

Susan Costonis