Recent Overdraft Cases Before the CFPB

Collections Compliance Frontline & New Accounts Operations Security & Fraud

On-Demand Webinar:

StreamedJun 26, 2023Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Overdraft fees are always unpopular with accountholders.

Now some examiners are looking at them through the lens of UDAAP. What are your practices? Would they withstand CFPB scrutiny? Join us to learn more about the regulators’ approach to identifying potential violations.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Distinguish the primary legal causes of action alleged in recent overdraft (OD) lawsuits
Explain what the CFPB deems to be unfair OD fee assessment practices
Know how and when to properly disclose OD and returned item fees
Implement the OD fee best practices
Protect and defend your institution against potential lawsuits

WEBINAR DETAILS

Certain types of overdraft fees have been criticized by the courts and regulators as unfair, deceptive, or abusive acts or practices. In November 2022, the CFPB issued a compliance bulletin explaining what they deem to be unfair returned item fees and unfair assessment practices. This webinar will explain the current legal and regulatory OD requirements as well as the CFPB’s approach to identifying a possible violation and determining when full corrective action will be required.

(Note: This program will be an update to our October 2022 webinar titled, “New Guidance on Overdraft Fees & Defenses Against Class Action Lawsuits” although much of the information does remain the same.)

WHO SHOULD ATTEND?

This informative session will benefit all personnel that handle overdrafts, such as deposit operations staff, service representatives, officers, managers, compliance personnel, auditors, and attorneys.

TAKE-AWAY TOOLKIT

CFPB Compliance Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.