Recorded on September 17, 2024

Community financial institutions are under growing pressure to balance exceptional customer service with financial stability. As the CFPB’s anticipated final rule approaches and competition intensifies, the stakes have never been higher for institutions to rethink their overdraft programs.

With regulators tightening their focus on eliminating practices that raise consumer costs, many institutions are left questioning the future of overdraft services. This webinar provides insights into the pressing questions financial institutions are facing today.

Key topics include:

• The Future of Overdrafts: What’s ahead for overdraft programs amid evolving regulatory and market trends?
• Refining Your Overdraft Strategy: How can your institution adapt its overdraft program to meet both consumer needs and regulatory expectations while ensuring long-term stability?
• Is Lowering Fees Enough? Discover why adjusting fee amounts alone may not be sufficient and what other factors should be considered.
• Understanding the CFPB’s Break-Even Benchmarks: Learn how to evaluate the financial impact of your overdraft service in light of CFPB guidelines.
• Common Pitfalls in Overdraft Strategy Changes: Avoid typical mistakes institutions make when revising overdraft policies and ensure your decisions are well-informed.

Panelists:

• John Cohron is CEO of ADVANTAGE, where he works directly with community financial institutions. For 20-plus years, he managed our consulting operations and technology development.
• Cheryl Lawson is EVP of Compliance Review at ADVANTAGE, where she provides strategic guidance, ensuring our community bank and credit union clients remain regulatorily compliant while effectively mitigating risks.

If you have any questions or would like to learn more about implementing a compliant and successful overdraft strategy, contact us.