Skip to content

Reg O Overdraft Monitoring-Business DDA Accounts

Question: 
As it pertains to Reg O and overdraft monitoring: Are business DDA accounts ​for​ which directors are signers to be included in the overdraft monitoring process?
Answer: 

by Randy Carey:

Related interests are not subject to the fee restrictions but an overdraft is a loan and may need prior board approval depending on the amount of credit outstanding to the director and their related interests.

Answer: 

by John Burnett:

In the event the business account is a sole proprietorship owned by the director, it would be treated the same as the director's personal account(s) for Reg O purposes.

First published on 12/24/2017

Filed under: 
Filed under compliance 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