Stay Compliant with Overdraft Regulations
We ensure your overdraft policies, disclosures, and practices comply with regulatory standards, helping you avoid costly penalties and maintain customer trust.
Consumer overdrafts are a common occurrence at most financial institutions. Managing these transactions while maintaining compliance with regulatory requirements is essential to protecting your institution and maintaining customer trust.
TCA Compliance offers comprehensive Overdraft Protection Program Reviews to help you ensure that your overdraft policies, disclosures, and practices align with regulatory standards.
Our Approach
Our experienced consultants conduct a thorough review of your institution's overdraft program, focusing on:
Overdraft Policy Review
- Assessment of your institution’s overdraft policy.
- Evaluation of fee waiving options and fee charging practices.
Regulation E and Regulation DD Compliance
- Review of special requirements for overdrafts under Regulation E and Regulation DD.
- Assessment of compliance with opt-in and disclosure requirements.
Advertising Compliance
- Review of the accuracy and content of overdraft advertisements.
- Validation of marketing practices to ensure compliance with applicable rules.
TCA provides A Better Way to ensure your overdraft practices align with regulatory standards, protecting your institution and maintaining customer trust.
Key deliverables include:
- A detailed assessment of your overdraft program policies and practices.
- Identification of compliance gaps and regulatory risks.
- Practical recommendations to enhance compliance.
- A comprehensive compliance report with actionable insights.
Additional Compliance Topics
Three Hot CRA Concerns
Minding the pandemic, election and social issues is a lot to focus on but bankers will have to add the Community Reinvestment Act (CRA) to their full plates. There are three hot CRA topics on which to focus since CRA is still very much on the regulatory agencies’ minds. Despite 2020 upending CRA lending programs, […]
Adverse Action Notice Requirements For Loans and Deposits
When you deny a credit application or a deposit account request, you simply fill out a form and move on to the next customer, right? If only it were that simple! This article will clarify the who, what and why of the different requirements for denying loan applications and deposit requests for consumers and businesses […]
Loan Servicing & Loss Mitigation Are Fair Lending Risks Too!
As we are all in this unusual time of a pandemic with various levels of lockdowns and social restrictions and the resulting economic downturn, unemployment and business closures, many financial institutions are trying to wade through processes on how to help their customer base through modifications, deferments, waiving of fees and loan proceeds for small […]
Do These Activities Qualify for CRA Credits?
COVID-19 has caused nationwide turmoil, including in the financial services industry. Banks have been flooded with inquiries regarding deferral of payments, modification of loan provisions and loan requests to keep businesses afloat. Many banks have asked TCA whether certain activities would be considered as CRA credits or qualified community development activities. The first of many […]
Preparing a Bank Secrecy Act Risk Assessment
Welcome to TCA’s BSA Back to Basics article series! Each month, our BSA experts will explore a section of the FFIEC BSA/AML Exam Manual, analyze the regulatory requirements, and offer insights to common findings in exams and audits. We will share best practices to help your BSA program continue to evolve. The first section of […]
Privacy Notice Opt-Out Requirements
TCA has received questions from several clients recently regarding privacy notices and opt-out requirements, so we felt it was time to provide a refresher. Questions on whether written agreements meet the requirements for joint marketing arrangements should be referred to legal counsel. What information is covered? The GLB Privacy Rule protects a consumer’s “nonpublic personal […]
