Quiz for Overdraft Compliance : Overview and Updates
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Question 1 of 10
1. Question
- Overdraft programs have never experienced any regulatory scrutiny and are highly encouraged.
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Question 2 of 10
2. Question
2. Which of the following is a type of overdraft program that involves employee judgement in making decisions to pay or return an item?
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Question 3 of 10
3. Question
3. Which of the following regulations do not impact overdraft programs?
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Question 4 of 10
4. Question
4. Which of the following is not an expectation from Interagency Supervisory Guidance regarding overdraft programs?
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Question 5 of 10
5. Question
5. In 2021, overdraft and NSF penalties made up 2/3rds of reported fee revenue.
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Question 6 of 10
6. Question
6. NSF representment fees do not pose UDAAP risks if posted on the bank’s fee schedule.
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Question 7 of 10
7. Question
7. Regulation E opt-in requirements relate to what type of coverage:
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Question 8 of 10
8. Question
8. Once consent has been given for use of overdraft programs on ATM and one-time debit card purchases, it cannot be revoked.
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Question 9 of 10
9. Question
9. If two or more consumers jointly hold an account, revocation is required by both consumers to opt-out of Reg E.
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Question 10 of 10
10. Question
10. Regulation O prohibits paying of overdrafts for: