Unchecked fee income practices with NSF and Overdraft Fees are a HUGE UDAAP issue.

Answered by:

Question:

Has your FI reviewed and adjust fee income for Overdraft and NSF items?

Answer:

Supervisory agencies expect their institutions to have reviewed overdraft and NSF fees looking for UDAAP issues and fairness to consumers. FIs that have not taken the time to look at fees through the customers eyes run the risk accusations of illegal junk fees, abusive practices, and unfair standards to consumer.

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Learn more about Kimberly Boatwright’s, Overdraft Programs and Their Risk to Your Financial Institution
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