Regulators issue guidance for overdraft services

Guidance has been issued by the federal financial regulators to assist insured depository institutions in the responsible disclosure and administration of overdraft protection services. The proposed guidance identifies concerns raised by institutions, financial supervisors, and the public about the marketing, disclosure and implementation of overdraft protection programs. To address these concerns, the proposed guidance: 1) seeks to ensure that financial institutions adopt adequate policies and procedures to address the credit, operational and other …