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Overdraft Practices - Weathering Stormy Seas
(Presented By John Burnett)
It has been an active storm season on the Sea of Overdraft Practices. First there were Best Practices winds, followed by a maelstrom of disclosures from the direction of the Fed, and a Guidance tsunami from the FDIC.
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET
A storm alert for OCC guidance may have been averted, but gale winds from an FDIC UDAP threat have caused some banks to trim their overdraft sails. The latest storm clouds are gathering at the Consumer Financial Protection Bureau, with its invitation to consumers to share their deposit account concerns. In this presentation, BOL Guru John Burnett will review the current official regulatory requirements on the topic, including the FDIC's November 2010 Final Overdraft Payment Supervisory Guidance. He'll provide an update on the status of a proposal floated by the OCC in June 2011, and review what the Bureau has done on the subject so far. You'll hear about key legal cases and enforcement actions that touch on this topic, too.
Attend this two-hour webinar to get a current perspective on regulatory requirements and developments affecting overdraft programs, including --
What the CFPB is focused on in its review of OD practices
Latest news from the CFPB
A review of the account disclosure requirements related to overdraft fees
A cautious look at Regulation DD account advertising requirements when overdrafts are mentioned
Providing balances using automated systems
Statement disclosure requirements
The opt-in disclosure requirements under Regulation E
Regs E and O - Does "no opt-in, no fee" apply to insiders, too?
Key provisions of the FDIC's Guidance and the follow-up FAQ
The FDIC's OD fees/Reg E/UDAP threat and what it means to you
Published exam procedures
Overview and discussion of the OCC's proposal
Recent court cases and regulatory enforcement actions involving overdraft payment programs
Webinar registrants will receive session materials that include a detailed analysis of each of the current regulatory requirements and guidance, along with a discussion of recent enforcement actions in which overdraft programs were involved, and currently published examination guidelines.
John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from the Stonier Graduate School of Banking. He is also a graduate of the BAI and the Massachusetts Banker Association Schools of Banking.
John brought over 35 years of banking experience (over 25 of them in Compliance and Operations) to Glia Group, Inc. and BankersOnline, when he joined them as a "BOL Guru" and Associate Editor in June, 2004.
He is a former member and chair of the Massachusetts Bankers Association's Legal and Regulatory Compliance Committee. He is an advisory board member for Bankers Hotline, and has participated in several ABA and Massachusetts Bankers seminar panels.