When you register for this webinar, you will receive a complimentary 8-part ToolKit, which includes:
- (1) Audit Checklist for Overdrafts
- (2) FDIC Overdraft Payment Guidance FAQ
- (3) FDIC Guidance on Overdraft Payment Programs & Consumer Protection
- (4) Information on the Electronic Funds Transfer Act
- (5) Information on Truth in Savings
- (6) CFPB 2014 Data Point Checking on Overdraft Accounts
- (7) CFPB 2013 Study of Overdraft Programs
- (8) 2005 Interagency Guidance on Overdrafts
Overdrafts are on the CFPB's future rulemaking agenda, but that hasn't stopped them from issuing enforcement actions before those new rules are issued. In order to address the growing concern of overdraft compliance, financial institutions have started including overdraft risk management in their audit schedules.
The world of overdraft requirements is about as gray as they come and creating an audit program can be daunting. Overdraft compliance is more than just following what the few laws say. Institutions are expected to apply guidance documentation and follow the ebb and flow of informal Examiner expectations. It can be difficult to keep up with every publication, study, guidance document, enforcement action, and expectation. We will explore the implications of all these resources, in a consolidated and concise manner, to help you fully understand what is expected of your institution.
This session will explore what you need to know to ensure your institution is operating within the current regulatory environment. We will discuss what your audit program should look at and what types of testing should be performed.
- What laws are applicable to overdrafts?
- What types of overdraft programs are examiners most likely to focus on?
- Does my program match regulator expectations?
- What resources are available to help guide my audit?
- What testwork should I perform?
- Participants will receive sample workpapers and report.
- And much, much more . . .
Who Should Attend?
This informative session is designed for:
- Compliance Officers and Staff,
- Risk Managers and Staff,
- Quality Control Managers and Staff,
- Retail Operations Managers and Staff, and
- Internal Audit Managers and Staff
Course Level: Intermediate/Advanced