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
New Threshold Amounts for 2023 under Regulation Z CARD Act, HOEPA and QM Sections
Based on the 8.9% increase in the Consumer Price Index (CPI-W) in effect on June 1, 2022, the Consumer Financial Protection Bureau (CFPB) released a number of new thresholds which go into effect on January 1, 2023. They include: Additionally, these changes affected the HOEPA threshold amounts found under 1026.32 based on the 8.3% increase […]
Regulatory Updates – Third Quarter 2022
Below is a link to the Regulatory Updates as of the end of Q3. 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 […]
Do you Remember? HMDA – Reporting Open-End Lines of Credit
It’s time for a trip into the Way-Back Machine, all the way back to April 16, 2020, when the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation C. This amendment permanently raised the closed-end coverage threshold from 25 to 100 closed-end mortgage loans in each of the two preceding calendar years. The […]
Renewed Focus on Overdraft and “Junk” fees
One of the consequences of shrinking interest rates and interest margins is that financial institutions’ reliance on non-interest income has significantly increased over the last decade. The Consumer Financial Protection Bureau (CFPB) published an initiative on January 26, 2022 stating its intention to research the impact of fees on American consumers. The press release specifically […]
B Prepared for Compliance in Commercial Lending
It’s common for many lenders to believe that commercial lending is exempt from federal compliance regulations. However, this would be untrue – commercial loans are subject to the following compliance regulations: Regulation C/HMDA, Flood Disaster Protection Act, and Regulation B/ECOA. This article will focus on only one the regulations above – Regulation B. Under this […]
2022 Census Tracts Changes What it May Mean for Your Assessment Area
The 2020 Census data has been released by the US Census – and it may impact your Assessment Area for CRA and your Lending Area for Fair Lending. The Federal Financial Institutions Examination Council (FFIEC) which provides uniformity and consistency in the supervision of financial institutions, incorporates the US Census data in a format that […]
