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.
Published
2022/11/14