Regarding the following question I read today, would it be okay for a bank to charge the overdraft fee if the customer HAD opted in - even though the account had a positive balance when the transaction was approved? Or, does this fall in line with the UDAP statement from the agencies? Question: Can we charge an overdraft fee for a one-time debit card transaction that overdraws an account of a customer who has not opted-in if there were sufficient funds at the time of authorization but not at the time the transaction posts? Answer: No. The rule does not include any exceptions for card transactions that overdraw an account. The rule at its simplest is, "No opt-in, no overdraft fee."
At what level should policy and procedures for handling third-party claims be approved?
How long should we keep typical complaint letters?
How can a bank best aid local law enforcement?
Our teller accepted a check for deposit that had been mobile deposited by our customer at another bank two weeks earlier. The check was returned to us due to duplicate payment. Our customer’s account is closed. Can we collect from the bank that took the mobile deposit?