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:
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
Federal Reserve Payment System Risk (PSR) Policy Statement
This Overdraft Policy Template (approximately 47 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.
When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.
Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.