Details:

Publisher's site:
https://www.fdic.gov/
Corporate Authors:
Federal Deposit Insurance Corporation (FDIC)
Description:
The FDIC expects the institutions it supervises to closely monitor and oversee any overdraft payment programs they offer to consumers. Such oversight should include appropriate measures to mitigate risks, incorporating the best practices outlined in the attached 2005 Joint Guidance on Overdraft Protection Programs, and effective management of third-party arrangements. Management should be especially vigilant with respect to product over-use that may harm consumers, rather than providing them the protection against occasional errors or funds shortfalls for which the programs were intended. The FDIC is seeking comment on these supervisory expectations.
Subject:
[+]
Consumer Protection
Dataset Download URL:
https://www.fdic.gov/news/financial-institution-letters/2010/fil10047.html
Format:
PDF
Release Date:
08/11/2010
Update Date:
11/26/2018
Withdrawn Date:
12/01/2018
Agencies Involved:
Federal Deposit Insurance Corporation (FDIC)
Fdic Employee Involved:
Victoria PawelskiPatricia I. Cashman
Law Involved:
Truth in Lending Act (TILA)Truth in Savings ActElectronic Fund Transfer ActEqual Credit Opportunity ActCommunity Reinvestment Act (CRA)Federal Trade Commission Act (FTC Act)
Related Regulation:
Regulation AARegulation ZRegulation DDRegulation E
Source:
FDIC Website
Memorandum To:
FDIC-Supervised Institutions
FIL Number:
FIL-47-2010
Main Document Checksum:
[+]
urn:sha256:b22326c6a499e9f61c2eaf3b10baecf6f897cfc9a8a3a95ef9536c724c0fcb16
Download URL:
https://archive.fdic.gov/view/fdic/7166/fdic_7166_DS1.pdf
File Type:

Supporting Files

• Supplemental Information: Joint Guidance on Overdraft Protection Guidance for Managing Third-Party Risk

  pdf

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