TITLE

A Real Rough Draft from The FDIC

AUTHOR(S)
Sisk, Michael
PUB. DATE
January 2011
SOURCE
Bank Technology News;Jan2011, Vol. 24 Issue 1, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the issuance of final guidance for overdraft payment programs by the Federal Deposit Insurance Corp. (FDIC) that will challenge banks to adapt their processes, systems and products by the given deadline. It notes that the new guidance will require banks to monitor demand deposit account (DDA) and limit the use of overdraft coverage as a form of short-term, high-cost credit. Banks should consider eliminating overdraft fees for transactions that overdraw by small amounts.
ACCESSION #
57402584

 

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