Answer:
Regulatory concern - make sure no Reg O Executive Officers are included in the overdraft program. Reg O prohibits a bank from paying overdrafts of an executive officer (other than defined "inadvertent" overdrafts).
Operational risk - not subjecting employees to a higher standard regarding management of their finances could lead to missing seeing an employee having financial difficulties and therefore at higher risk of fraud or embezzlement, especially when combined with access to funds.
Reputation risk - should it become know that you don't hold employees to a high standard for management of finances, that could be a ding to your reputation.