Overdraft Disclosure Requirements:
Regulations, UDAAP & Legal Risks
Webinar OR Recorded Webinar + Free Digital Download
Thursday, June 14, 2018
12:00 pm – 1:30 pm Pacific
1:00 pm – 2:30 pm Mountain
2:00 pm – 3:30 pm Central
3:00 pm – 4:30 pm Eastern
Overdraft protection continues to be a hot, high-risk area. Regulators have identified misleading and deceptive practices in examinations, including inaccurate and incomplete overdraft disclosures and deficient opt-in procedures. This webinar will analyze Truth in Savings and Regulation E disclosure requirements related to overdraft protection. Financial institutions throughout the country have become targets for class action lawsuits that allege improper overdraft practices, a lack of transparency and disclosure about the overdraft program, and failure to comply with the Electronic Fund Transfer Act and Regulation E.
Best practices for ensuring your institution has clearly described its overdraft protection program (and overdraft alternatives and ability to opt out) will be analyzed. Specifically, this webinar will examine the importance of disclosing and explaining your institution’s use of the available balance and how this impacts accountholders. By clearly explaining when overdraft/NSF fees will be charged, institutions can reduce compliance, UDAAP, and legal risk.
- Summary of Truth in Savings and Regulation E disclosure requirements for overdraft protection
- Regulation E’s model overdraft opt-in disclosure for ATM and one-time debit card transactions
- Best practices to inform accountholders of how your overdraft protection program works, including options and priority levels for linked accounts, lines of credit, and overdraft protection
- Analysis of a checking account’s available balance versus actual balance
- Examples of when overdraft protection or NSF fees will be charged
- Signature versus PIN debit card transactions and the impact of authorization holds on available balance
- TAKE-AWAY TOOLKIT
- List of possible topics and information to add to your overdraft explanation and website to reduce UDAAP and litigation risks
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session is designed for deposit, operations, compliance, and audit employees.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
ABOUT THE PRESENTER – Steven Van Beek, Esq., NCCO, Howard & Howard Attorneys PLLC
Steve Van Beek is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations. He assists financial institutions throughout the country manage and reduce compliance, legal, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.
THREE REGISTRATION OPTIONS
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
1. LIVE WEBINAR
The live webinar option allows you to have one internet connection from a single computer terminal. You may have as many people as you like listen and watch from your office computer. Registrants receive a website address and passcode that allows entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com.
2. RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.
The recorded webinar may ONLY be ordered for 6 months following the live webinar. In addition, the download must be completed within 6 months of the live webinar date.
3. BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Options 1 and 2 described above.
AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE