Answers to Five Critical Overdraft Issues
Tuesday, September 17, 2024
2:00-3:00 PM CENTRAL
Community financial institutions face mounting pressure to balance delivering exceptional service and safeguarding financial stability. With the anticipation of the CFPB’s final rule and increased market competition, the stakes have never been higher.
Join us for an insightful discussion designed to address the pressing questions many FIs have about overdraft services. As regulators ramp up their focus on eliminating problematic practices, including reducing consumer costs, financial institutions are left wondering about the future of their overdraft programs and how to navigate these changes effectively.
Key issues for discussion:
- Are Overdrafts Going Away? Explore the future of overdraft programs in light of current regulatory and market trends.
- How can your FI refine its overdraft strategy while prioritizing safety and soundness? Discover ways to address consumer needs and regulator expectations while ensuring financial stability.
- Is lowering your overdraft fee enough? Consider what additional factors should be evaluated beyond just changing fee amounts.
- How does the break-even fee or benchmarks provided by the CFPB potentially impact your program? Gain insights into evaluating the financial impact of your overdraft service.
- What are the common missteps FIs make when changing overdraft strategy? Learn the important factors to consider for informed decision-making.
Feel free to submit your questions for our panelists.
PANELISTS
- Cheryl Lawson is the EVP of Compliance Review at ADVANTAGE, renowned for her exceptional insights into the complexities of the evolving landscape of overdraft compliance for our industry. In her role, She provides strategic guidance to ADVANTAGE’s overdraft consulting practice, ensuring our community bank and credit union clients remain regulatorily compliant while effectively mitigating risks.
- John Cohron serves as the CEO at ADVANTAGE. With more than 20 years of experience managing consulting operations and technology development, he is a forward-thinking leader passionate about driving innovation and growth for community financial institutions to deliver value to consumers and strengthen their competitive position.