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Overdraft Programs and Their Risk to Your Financial Institution

Overdraft services continue to be a target for regulatory scrutiny in 2024 and financial institutions who’ve been cited can attest to the damage unchecked fee income practices can have on an organization. This livestreaming webinar provides an evaluative look into overdraft programs and the risks associated.

OnDemand
Recorded Wednesday,
October 9th, 2024
Presented by Kimberly Boatwright
1h 30m total length
2 CRCM & 2 CERP Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Customer Service
  • Deposit Accounts
  • Deposit Compliance
  • General Compliance
  • Lending Compliance
  • Risk Management/Legal
  • Sales
  • Bank Legal Counsel
  • Board Member
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Senior Management

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Fee income practices related to overdraft programs have been making headlines for months, and in some cases, years. When overlooked or inadequately managed, overdraft programs can leave your institution open to huge risks.

Both federal and state regulators are paying particular attention to this issue and your institution has to look closely into to its overdraft and insufficient funds practices.

You’ll come away from this session with actionable best practices to avoid common pitfalls, potential fines, and reputational risks.

What You'll Learn

  • Get a better understanding of the risks associated with overdraft programs
  • Learn the most common pitfalls and how to avoid them
  • Gain actionable best practices for your institution’s overdraft program
  • Understand UDAAP “traps” and which practices are most likely to be considered deceptive, unfair, or abusive
  • Find out how to avoid being cited by your regulator and Civil Money Penalties
  • Weigh the compliance and reputational risks associated with fee income against the revenue it may produce for your institution
  • Explore regulator input from the CFPB, NCUA, OCC, and FDIC
  • Examine recent enforcement actions related to overdraft programs and discuss where other institutions have gone wrong

Who Should Attend

This program is designed for those working in strategic planning, compliance, risk, and vendor management.

Kimberly Boatwright

Instructor Bio

Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC, and has more than two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC, and consumer compliance. During her career, she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.

Continuing Education Credit Information

Overdraft Programs and Their Risk to Your Financial Institution has been approved for 2 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

Overdraft Programs and Their Risk to Your Financial Institution has been approved for 2 CERP credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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