The purpose of this Overdraft Policy Template is to describe the overdraft approval process and related overdraft protection products and services of a bank, credit union, or other type of financial institution to provide a foundation of safe and sound credit decisions and adherence to all applicable laws, rules and regulations.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Federal Reserve Daylight Credit Policies – Topic 3
- Risk Management of Overdraft Protection Programs – Topic 4
- Responsibilities and Approval Authority – Topic 5
- Overdraft and Returned Item Fees and Notices – Topic 6
- Audit Policy – Topic 7
- Staff Training – Topic 8
- Retention of Documentation – Topic 9
Includes the following form templates:
- Overdraft Approval Form (1 page)
- Overdraft Service Consent Form (1 Page)
Recent updates to this product:
Deletion of Guidance Prior to 10/01/20 Effective Date
OCC Bulletin – Deposit-Related Credit: Revised Comptroller’s Handbook
Federal Reserve Press Release – Federal Reserve Board Announces Implementation Delay for Changes to its Payment System Risk Regarding Intraday Credit
Federal Reserve Approves Modifications to National Settlement Service and Fedwire Funds Service to Support Enhancements to the Same-Day Automated Clearinghouse Service
Federal Reserve Board Announces Changes to its Payment System Risk Policy Regarding Intraday Credit to U.S. Branches and Agencies of Foreign Banking Organizations
Current Expected Credit Losses (CECL) Accounting Standard
OCC Bulletin 2018-28 – Revised Deposit-Related Credit Booklet
This Overdraft Policy Template (approximately 43 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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