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�౦��Ϸ���� Invites Comments on Overdraft Payment Supervisory Guidance

Summary: The �౦��Ϸ���� expects the institutions it supervises to closely monitor and oversee any overdraft payment programs they offer to consumers. Such oversight should include appropriate measures to mitigate risks, incorporating the best practices outlined in the 2005 Joint Guidance on Overdraft Protection Programs, and effective management of third-party arrangements. Management should be especially vigilant with respect to product over-use that may harm consumers.

Comments Requested: As the �౦��Ϸ���� continues its review of overdraft payment issues, we invite the views of affected institutions, consumers, and other interested parties on this supervisory guidance. Institutions and other parties that choose to respond should provide comments by September 27, 2010.

The comment period is closed.

All comments received will be posted generally without change, including any personal information provided.

See �౦��Ϸ���� Financial Institution Letter FIL 47-2010 for additional information.
 

Comment Letters from:

• Consumer/Public Policy Organizations
• Congress
• Industry Groups/Vendors/Large Banks
• State Bankers Associations
• Financial Institutions (August 11 through September 26)
• Financial Institutions (September 27, 2010)
• Consumers