Still in the Crosshairs An Update on Bank Overdraft Practices

Despite having been a target for over a decade, bank overdraft practices remain a focus of regulators and plaintiffs’ class action attorneys. The Consumer Financial Protection Bureau is again considering rulemaking to prohibit certain practices and/or require additional disclosures while the prudential bank regulators have expressed interest in reforming bank overdraft practices. In addition, legislation has been introduced in Congress to bar certain practices and a new wave of private litigation is underway with a focus on practices other than high to low processing.

In this webinar, the topics we will discuss include:

• Overdraft practices challenged in current litigation
• Overdraft practices targeted by regulators in supervisory or enforcement actions
• Safety and soundness issues arising from overdraft practices
• Legislative proposals
• Expectations for future rulemaking/supervision/enforcement by regulators
• Use of arbitration provisions to help avoid class action exposure