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'Get Serious' on Best Practices for Overdraft Programs, Legal Expert Tells C.U. and Banking Executives.

Publication: PR Newswire
Publication Date: 26-MAY-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
AUSTIN, Texas, May 26 /PRNewswire/ -- Recently issued Interagency Guidance on best practices for checking and ATM overdraft programs is "warranted and worthwhile to curtail abusive programs that hurt accountholders," says a leading attorney on regulations affecting retail financial services.

Oliver Ireland, a partner in the Financial Services Practice Group of Morrison & Foerster, LLP, Washington, D.C., addressed separate sessions of banking and credit union executives during the 2005 Floyd Forum Leadership in Austin earlier this month. His message to both was emphatic: "Protect yourselves. Understand regulatory issues affecting overdraft programs." PHOTO URL: http://www.mofo.com/attorney/individual.asp?Ireland8708

Ireland's practice focuses primarily on retail financial services including electronic commerce, compliance with Federal Reserve regulations, the Fair Credit Reporting Act, E-SIGN, the U.S. Patriot Act, and...

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