Regulation E Overdraft Opt-In
Regulation E’s overdraft rules related to ATM and one-time debit transactions seem pretty straightforward. Since these rules have gone into effect; however, some institutions have unknowingly gotten themselves into hot water. If you are an institution that currently offers the opt-in or doesn’t offer the opt-in but is curious about doing so, we wanted to give you a few tips. First, don’t be misleading when it comes to “selling” this to your customer. You obviously want to discuss the opt-in with your customer, but you need to make sure you are clearly explaining and informing them about what it is and what it isn’t. It’s a good idea to have a script of some kind so that everyone is giving the same information.
Jerod gives more tips in the video.
Published
2021/05/20
Jamie Gustafson
Jamie wears many hats at Banker’s Compliance Consulting. These include managing the administrative team and heading up the e-commerce division. Jamie incorporates her experiences as a former Sergeant in the military and small business owner to bring an energetic and passionate approach to all opportunities! She has a Master’s Degree in Organizational Management and will graduate with her Ph.D. in Business – in May 2023. When Jamie is not directing at BCC, she dabbles in hobbies such as soap and cheese making.