Overdraft protection programs continue to be intensely scrutinized by regulators. In addition to complying with the specific laws and regulations, your credit union also needs to evaluate whether any aspect of its overdraft protection program might constitute an unfair, deceptive, or abusive act or practice. The CFPB issued a report on overdraft programs in June 2013, making them a top priority. If that wasn’t enough, member complaints and regulatory enforcement actions are increasing in this area. This webinar will explain the issues and problems with overdraft protection programs, the current legal and regulatory requirements, and the steps your credit union can take to protect itself.
- How and when to properly disclose overdraft and returned item fees
- Regulation E opt-in disclosure requirements for ATM and debit cards
- Advertisement restrictions
- Distinction between an automated overdraft program versus an ad hoc overdraft program
- When daily limits and de minimis thresholds are appropriate
- When the credit union is required to inform members of other available alternatives
- TAKE-AWAY TOOLKIT
- NCUA guidance on overdraft protection programs
- 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 individuals that handle overdrafts, such as deposit operations personnel, member service representatives, credit union officers, managers, compliance staff, auditors, and attorneys.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
|Over $75 million
|$25 - $75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.
Upon registration, you will receive an email confirmation that you can print for your records. Connecting instructions will be emailed to you approximately two days before the event.
Sorry, no cancellations are allowed after connecting instructions and handout materials are distributed to registrants. Substitutions are welcomed and encouraged.
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.