Skip to content

Required Number of Counseling Letters (Overdraft)

Answered by: 

I have recently been put in charge of our Overdraft Management program, but I am fairly new with the program rules/regs. We are sending what seems to me to be a lot of counseling letters to our overdrawn customers. Is there a clear-cut answer on how many counseling letters we are required to send customers?

No. Any letters you write to your frequent flyers are the product of "guidance" issued by either the OCC or the FDIC. They do not set any cap on the number of these communications you might send.

At some point, it might be prudent for you to contact the customers directly and ask if they wish you to continue with your notices. If they say "No," then document the contact and discontinue the practice.

First published on 6/3/13

First published on 06/03/2013

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