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Guidance on Overdraft Fees & Defenses Against Class Action Lawsuits

Oct 18 10:00 AM - Oct 18, 2022 11:30 AM
Oct 18, 2022 10:00 AM - 11:30 AM
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Overdraft fees are often in the news and are a common source of consumer complaints.  Are you following best practices?  Could you be vulnerable to a related class action lawsuit? Join this webinar to learn more about where regulators stand on this moving target.

Learning Objectives

  • Understand how and when to properly disclose overdraft (OD) and returned item fees
  • Utilize the key principles identified by regulators regarding multiple NSF fees for re-presentment of an unpaid item
  • Implement OD fee best practices at your institution 
  • Take steps to avoid regulator criticism 
  • Protect and defend your institution against potential class action lawsuits

Overdraft fees and OD protection programs continue to be intensely scrutinized by regulators.  Institutions have been warned about the serious consumer compliance risks associated with the assessment of multiple NSF fees arising from the re-presentment of the same unpaid item. In addition, it is important to properly evaluate whether any aspect of your OD fees and programs might constitute an unfair, deceptive, or abusive act or practice.  As if that wasn’t enough, class action lawsuits involving OD fees have increased throughout the country resulting in substantial monetary settlements. This webinar will explain the current legal and regulatory requirements regarding OD fees, the proper approach to identifying a possible violation and determining when full corrective action is required, and the recommended steps to defend your institution against class action lawsuits.

Agenda

Speakers

Kersten Holzhueter, JD, Spencer Fane LLP

Kersten Holzhueter is a partner with Spencer Fane LLP and a full-service litigator for financial institutions. Her defense work involves class action lawsuits, including allegations of unfair, deceptive, or abusive acts or practices, and violations of the Uniform Commercial Code, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Telephone Consumer Protection Act, Truth in Lending Act, Equal Credit Opportunity Act, and state consumer-protection statutes. Her breadth of experience as a financial services litigator has enabled her to counsel clients on how to avoid lawsuits.

Elizabeth Fast, JD, CPA, Spencer Fane LLP 

Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions.  Elizabeth is the head of the firm’s training division.  She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University.  In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant.  Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.  

Location

Fees

$259.00 

Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Operations
  • Member Service
  • Compliance