New CFPB Enforcement Actions on Regulation E and NSF Overdrafts

1 year ago Posted By : User Ref No: WURUR135444 0
  • Image
  • TypeWebinar
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  • Location Online Event
  • Price
  • Date 09-02-2023
New CFPB Enforcement Actions on Regulation E and NSF Overdrafts, Online Event
Webinar Title
New CFPB Enforcement Actions on Regulation E and NSF Overdrafts
Event Type
Webinar
Webinar Date
09-02-2023
Location
Online Event
Organization Name / Organize By
Skill Preceptor
Presented By
Mr. Justin Muscolino
Organizing/Related Departments
Skill Preceptor
Organization Type
Organization
WebinarCategory
Both (Technical & Non Technical)
WebinarLevel
All (State/Province/Region, National & International)
Related Industries

Business Development

Finance

Administration/Management

Accounting/Financial/Banking/Insurance

OTHERS

Location
Online Event

OVERVIEW

On January 26, 2022, the CFPB announced a new initiative to solicit public feedback on "junk fees," which included NSF and overdraft fees. Fee oversight and regulation remain a priority for Congress and regulators.

Overdraft and late fees continue to dominate headlines in the banking industry and regulator announcements. Many financial institutions and FINTECHS have made proactive changes to their fee policies and procedures in response to competitive pressure from new industry participants and the evolving regulatory environment. Several financial institutions have revised, reduced, or eliminated their fee assessment practices in the last year.

WHY SHOULD YOU ATTEND?

The Consumer Financial Protection Bureau (CFPB) issued a consent order on September 8, 2022, requiring a bank to pay a $50 million penalty and refund at least $141 million to customers allegedly harmed by the bank's overdraft practices.

To mitigate the growing risk of litigation and regulatory issues, financial institutions should conduct a thorough review of their internal and third-party NSF and overdraft programs, as well as customer-facing disclosures, to ensure compliance with the current regulatory environment.

This training will focus on the new announcement and what it means to employees of a financial institution. The big part of this training is to be able to understand the risks that are associated and what to do in order to minimize those risks.

AREAS COVERED

  • CFPB NSF and Overdraft Fees Initiative
  • Purpose of Initiative 
  • Disclosures
  • Risks to Financial Institutions
  • Best business practices for mitigating risks

WHO WILL BENEFIT?

  • Deposit Operations/Electronic Banking
  • Client Facing Teams 
  • BSA and Fraud 
  • Treasury Sales and Operations 
  • Compliance Officers 
  • Internal Audit 
  • Information Security/Technology 
  • Senior Management
  • Payments Professionals 

Others Details

This webinar will go over the latest CFPB announcement and discuss how financial institutions are working to mitigate these risks, as well as go over previous years of potential fee violations.

Registration Fees
Available
Registration Fees Details
$199 to $799
Registration Ways
Email
Phone
Website
Address/Venue
Online  GoTo Application 
Contact

[email protected]

     +1-855-202-3299