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Course description

Due to the high risks of consumer harm, all prudential regulators scrutinize overdraft practices whether an institution honors overdrafts via an ad hoc or automated approach. A proper understanding of the applicable regulations is critical to ensuring a successful, compliant approach to overdraft management. Not only must disclosures accurately describe overdraft practices, but retail staff must accurately represent the account terms during verbal discussions. Systems must be properly calibrated to assess fees and pay/return items consistent with disclosed terms. The requirements for a compliant program cross deposit, lending, and accounting requirements Operations staff may or may not be familiar with all the applicable regulations.

This webinar will benefit operations staff, compliance officers and auditors by guiding participants through each of the requirements by regulation or guidance and will highlight areas of risk. We will consider enforcement actions relating to overdrafts so that we can learn from previous missteps. Participants will be provided with tips and strategies for monitoring or auditing compliance with the complex requirements.

In this two-hour session, Brian will cover:
   

  • Regulation DD disclosures and advertising
  • Parameter analysis for correct fee assessment
  • “Double dipping” of fees and the risks associated with doing so
  • Regulation E – Opt-In
  • The impact of “debit card authorizations” on overdraft fees
  • Unfair Deceptive or Abusive Acts and Practice pitfalls
  • Regulation Z – Repayment plans
  • Regulation B – Overdraft limits and fee structure
  • Fair Credit Reporting Act – Negative information reporting, direct disputes, and adverse action
  • Fair Debt Collection Practices Act – Third party oversight and collection best practices
  • Consideration of overdraft balances and limits on the Call Report and Allowance for Loan Losses
  • 2005 Joint Agency Guidance on Overdraft Programs
  • 2010 FDIC Subsequent Guidance on Overdraft Programs

 

Written materials will be provided for participants to refer to during the presentation.

Instructor(s)

Brian Crow

Brian Crow is managing partner and co-president for TCA Compliance and is a nationally recognized BSA/AML expert with a strong bank compliance management background and a welcome ability to provide focused educational support to TCA client banks. Mr. Crow most recently was BSA Administrator for a suburban Chicago bank, where his responsibilities included the bank’s annual assessment and audit documentation. Earlier, as Operations Officer at the same bank, Mr. Crow monitored AML activity and helped install automated AML software that allowed the bank to transition from paper to electronic CTRs. His activities were responsible for reducing debit card fraud by 95 percent at the bank. Mr. Crow has been, and continues to be, an education consultant for the Glia Group BOL Learning Connect program, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011. Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree from Concordia University, River Forest, Illinois.

Course curriculum

  • 1

    Webinar

    • Access Webinar
  • 2

    Materials

    • Slides

    • 2005 Joint Overdraft Guidance

    • CFPB TD Bank Settlement

    • Regions Bank Consent Order

    • CFPB Available vs. Ledger

    • FDIC Overdraft Fees

    • 2010 FDIC Guidance

    • Questions and Answers

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