Late last year, CFPB ordered Atlantic Union Bank to pay $6.2 million for illegal overdraft fee harvesting. Are junk fees, which are fees that bring little value to the consumer and are hidden or undisclosed, putting your institution at risk?
In this webinar, we’ll examine the types of fees as well as two proposed rules:
- Large Bank restrictions on OD fees – The proposal would provide two options for very large financial institutions to operate within this exception – calculating their own costs using a “breakeven standard” or relying on a “benchmark fee” set by the CFPB.
- Fees on Instantly Declined Transactions
What You’ll Learn
- Charging fees without proper consent
- Misleading customers about terms and costs of OD coverage
- Authorize positive settle negative
- Repeated overdraft fees on the same item
- Transfers from savings
- Account opening procedures
- Regulation E and DD
- Reopening accounts without customers’ consent
Who Should Attend
Deposit Operations, Deposit Compliance, Training, Management and New Accounts personnel will find this webinar valuable.