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
Last‐minute 2018 HMDA Clarifications
The long-awaited deadline to begin collecting 2018 HMDA data is here! Banking agencies have issued HMDA guidelines on data testing and additional information on HMDA data collection. Also, the Consumer Financial Protection Bureau (CFPB) has clarified some interpretations as it has worked through numerous questions via phone calls and emails from filers. One of the […]
Never Too Much BSA Training
With new leadership at the CFPB, OCC and FDIC, one may put training expenditures on the back burner thinking regulatory relief may make training not an every‐year mandate. Until you see relief in a regulation or rule change, don’t make any assumptions because training exceptions are BSA Pillar violations. Remember, a pillar violation can trigger […]
Video Gambling: A Good Bet for Your BSA Program?
Following the recession of the last decade, many states explored creative options to generate additional revenue without increasing income or sales taxes. Given the popularity of lotteries, some states – including Illinois, South Dakota, West Virginia, and Oregon – legalized video gambling machines. State governments, local municipalities, machine operators and business owners all share in […]
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