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Update on Overdraft Services and Junk Fees

CFPB has been hot on the trail of junk fees - is your institution at risk? Join us as we look at supervisory guidance from the regulators and lessons learned on consent orders.

OnDemand
DATE

Recorded Tuesday,
May 14, 2024

INSTRUCTOR

Deborah Crawford

DURATION

2 Hours

FORMAT

Webinar

$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Management/Employee Development
  • Reporting
  • Transaction Compliance
  • Branch Manager
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Senior Management
  • Training Manager

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Late last year, CFPB ordered Atlantic Union Bank to pay $6.2 million for illegal overdraft fee harvesting. Are junk fees, which are fees that bring little value to the consumer and are hidden or undisclosed, putting your institution at risk?

In this webinar, we'll examine the types of fees as well as two proposed rules:

  • Large Bank restrictions on OD fees - The proposal would provide two options for very large financial institutions to operate within this exception - calculating their own costs using a "breakeven standard" or relying on a "benchmark fee" set by the CFPB.
  • Fees on Instantly Declined Transactions

What You'll Learn

  • Charging fees without proper consent
  • Misleading customers about terms and costs of OD coverage
  • Authorize positive settle negative
  • Repeated overdraft fees on the same item
  • Transfers from savings
  • Account opening procedures
  • Regulation E and DD
  • Reopening accounts without customers’ consent

Who Should Attend

Deposit Operations, Deposit Compliance, Training, Management and New Accounts personnel will find this webinar valuable.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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