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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Hsu's remarks on reforming overdraft programs

On Wednesday, Acting Comptroller of the Currency Michael J. Hsu spoke at the Consumer Federation of America's 34th Annual Financial Services Conference on the topic "Reforming Overdraft Programs to Empower and Promote Financial Health."

In concluding his remarks, Hsu shared several features of bank overdraft programs that the OCC staff have identified that could support consumer financial health, including banks:

  • requiring consumer opt-in to the overdraft program.
  • providing a grace period before charging an overdraft fee.
  • allowing negative balances without triggering an overdraft fee.
  • offering consumers balance-related alerts.
  • providing consumers with access to real-time balance information.
  • linking a consumer’s checking account to another account for overdraft protection.
  • collecting overdraft or NSF fees from a consumer’s next deposit only after other items have been posted or cleared.
  • not charging separate and multiple overdraft fees for multiple items in a single day and not charging additional fees when an item is re-presented.
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