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Financial Institution Letter

Overdraft Payment Program Supervisory Guidance Staff Teleconference on Implementation

March 16, 2011
Notes
 

Summary: 

Staff from the FDIC's Division of Depositor and Consumer Protection (DCP) will host a teleconference on March 29, 2011, to discuss the 2010 Overdraft Payment Program Supervisory Guidance issued in November 2010 (FIL-81-2010). The purpose of the call is to assist FDIC-supervised institutions as they implement efforts to mitigate risk in response to the expectations and recommendations identified in the guidance. In addition to providing an overview of the guidance, staff will address examination and implementation issues based on discussions with, and questions received from, FDIC-supervised institutions.

Highlights:

  • On November 24, 2010, the FDIC issued final Overdraft Payment Program Supervisory Guidance reaffirming existing supervisory expectations with respect to overdraft payment programs and providing specific guidance with respect to automated overdraft payment programs.
  • To allow sufficient time for institutions to review, consider, and respond to the expectations in the final guidance, the FDIC stated that it expects any additional efforts to mitigate risk to be in place by July 1, 2011.
  • The teleconference will be held on Tuesday, March 29, 2011, from 3:00 to 4:30 p.m. EDT.
  • Advance registration is required. Registration information, presentation materials, and call-in information will be made available at http://www.fdic.gov/news/conferences/overdraft/2011-03-29.html.
  • Additionally, institutions with Microsoft Office Live Meeting software will be able to view synchronized presentation materials live by accessing the link provided in the registration confirmation e-mail at the time of the call (these materials will also be posted on the Web page).
  • In addition to providing an overview of the guidance and related implementation and supervision issues, institutions may submit related questions in advance of the call to ODCallQuestions@fdic.gov.

Distribution:

FDIC-Supervised Institutions

Suggested Routing:

Chief Executive Officer
Compliance Officer
Chief Lending Officer
General Counsel

Related Topics:

Overdraft Payment Program Supervisory Guidance
Joint Guidance on Overdraft Protection Programs
Federal Trade Commission Act Unfair or Deceptive Acts and Practices provisions and Regulation AA
Guidance For Managing Third Party Risk
Truth in Lending Act and Regulation Z
Truth in Savings Act and Regulation DD
Electronic Fund Transfer Act and Regulation E
Equal Credit Opportunity Act
Community Reinvestment Act

Note:

FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at http://www.fdic.gov/news/financial-institution-letters/2011.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

FIL-16-2011

Last Updated: March 16, 2011