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:
CFPB Release – CFPB Issues Guidance to Help Banks Avoid Charging Illegal Junk Fees On Deposit Accounts
FDIC FIL-40-2022 – Supervisory Guidance on Multiple Re-Presentment NSF Fees
This Overdraft Policy Template (approximately 51 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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