Posted By: Oscar
Overdraft Policy - 10/24/18 03:58 PM
I have been tasked with writing an overall Overdraft Policy for the financial institution where I work. We currently have an Overdrafts section as part of our Loan Policy that covers overdrafts as an unsecured extension of credit and how they should be approved but nothing else. They are wanting a separate Overdraft Policy that covers a lot more. I have searched for industry best practices regarding this and have mainly seen articles on overdraft payment programs. Are there any industry best practices on what should be in a bank's Overdraft Policy?