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
“ARM” Yourself for Volume Increase and Avoid Common Compliance Pitfalls
Part 2 of a 3 Part Series In our last article, TCA recapped items necessary for origination and proper disclosure of ARM Loans. In this second article, we will review the requirements for complying with underwriting requirements unique to Adjustable-Rate Mortgages. Underwriting ARM Loans While banks are required to comply with the Ability-to-Repay standards in […]
Regulatory Updates – Second Quarter 2023
Below is a link to the Regulatory Updates as of the end of Q2. TCA provides A Better Way for you to track Compliance updates and keep your organization on track. You can download the updates in a PDF form here. As always, TCA is here to help with A Better Way to answer all […]
“ARM” Yourself for Volume Increase and Avoid Common Compliance Pitfalls
Part 1 of a 3 Part Series For many years, we have experienced a low interest rate environment and originated predominantly fixed rate mortgages. Well times are changing – with the increase in interest rates, the popularity of Adjustable-Rate Mortgages is gaining momentum. We might be a little “rusty” in the process of originating and […]
FDIC Doubles Down and the OCC Jumps in On the Overdraft Discussion
The history of overdraft guidance goes back to 2005 with the Joint Guidance on Overdraft Protection Programs. The FDIC followed up with the Overdraft Payment Programs and Consumer Protection Final Overdraft Payment Supervisory Guidance in 2010 and the FDIC Overdraft Payment Program Supervisory Guidance FAQ in 2011. In 2019, the FDIC provided more information relating […]
FDIC Name Change – Updated, Again
On August 8, 2022 in the Federal Register (and a correction on August 12) the FDIC reported they had renamed the Consumer Response Center to the “National Center for Consumer and Depositor Assistance”. This Division is referenced in the Fair Housing regulation at 12 CFR 338 and in the Consumer Protection in Sales of Insurance […]
Regulatory Updates – First Quarter 2023
Below is a link to the Regulatory Updates as of the end of Q1. TCA provides A Better Way for you to track Compliance updates and keep your organization on track. You can download the updates in a PDF form here. As always, TCA is here to help with A Better Way to answer all […]
