Overdraft Protection: What CU’s Need to Know

AuditLink has published a whitepaper detailing some of the legal and regulatory risks surrounding overdraft fees.  The paper, entitled Overdraft Class Action Lawsuits – What CUs Need to Know , details some of the latest overdraft class action lawsuits and regulatory actions.

We recommend that all credit unions review their overdraft configurations as well as their disclosures and agreements to ensure configurations match credit union practice and are in compliance with consumer protection laws.  CU*Answers clients may also engage with AuditLink, which offers consulting services to financial institutions concerned about overdraft fee litigation and regulation. Click here for more information on how AuditLink can help you.

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