Top Violations: Regulation E Opt-In

The end of 2022 is quickly approaching! This time of year, we like to look back and reflect on some of the common violations our review team sees throughout the year. One area that always seems to pop up now and again is issues related to the Regulation E Opt-In.

Regulation E says you cannot charge a consumer an overdraft fee for a one-time debit card or ATM transaction unless the customer opts in, effectively allowing them to be charged in these instances.

Three common issues we see include 1) the bank’s sales pitch, 2) continuous overdraft fees, and 3) available vs. ledger balance.

Jerod explains more in the video.

 

Regulation E Resources!

Published
2022/11/14
Jerod Moyer

Jerod Moyer

Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!

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