Skip to content

OD Policy for Executive Officers/Directors-Reg O

Answered by: 

Question: 
If a bank has an employee overdraft policy where each employee is allowed (3) overdrafts annually with no fee charged, does this policy also apply to Executive Officers and Directors? Or even if there is an employee plan, paying an OD item and not charging for an overdraft for an EO or Director would be a violation of Reg O?
Answer: 

Regulation O won't permit you to waive OD fees for executive officers or for directors unless you waive them for customers generally under similar circumstances.

First published on BankersOnline.com 4/9/12

First published on 04/09/2012

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics