Public Comment, Stufy of Overdraft Protection Programs, America's Community Bankers

Krista Shonk

Description

March 9, 2007 Mr. Steve Hanft Legal Division Federal Deposit Insurance Corporation th550 17 Street, NW Washington, DC 20429 Re: Study of Overdraft Protection Programs 72 FR 5718 (February 7, 2007) Dear Mr. Hanft: 1America's Community Bankers (ACB) appreciates the opportunity to provide comments on two draft surveys designed by the Federal Deposit Insurance Corporation (FDIC) to collect information regarding overdraft protection products offered by state nonmember financial 2institutions and the usage patterns of overdraft products among depositors in those institutions. This information will be collected in two parts: a survey questionnaire that will be distributed to 500 state-chartered nonmember financial institutions and an additional micro-data collection in which more detailed information will be collected from up to 100 of these institutions. These draft surveys have been proposed following the FDIC’s consideration of comments on earlier versions of the surveys. ACB submitted comments on the earlier drafts in a letter to the FDIC dated December 18, 2006. The supporting statement the FDIC submitted to the Office of Management and Budget (OMB) regarding the surveys indicates that the FDIC has “little systemic information about the features of overdraft protection programs and how the features are related to the usage and the attendant accrual of fees.” The FDIC states that, as a banking regulatory agency charged ...

Informations

• Publié par: Vaep
• Nombre de lectures: 22
• Langue: English

Extrait

March 9, 2007

Mr. Steve Hanft

Legal Division

Federal Deposit Insurance Corporation

550 17

th

Street, NW

Washington, DC 20429

Re:

Study of Overdraft Protection Programs

72 FR 5718 (February 7, 2007)

Dear Mr. Hanft:

America's Community Bankers (ACB)

1

appreciates the opportunity to provide comments on two

draft surveys designed by the Federal Deposit Insurance Corporation (FDIC) to collect

information regarding overdraft protection products offered by state nonmember financial

institutions and the usage patterns of overdraft products among depositors in those institutions.

2

This information will be collected in two parts: a survey questionnaire that will be distributed to

500 state-chartered nonmember financial institutions and an additional micro-data collection in

which more detailed information will be collected from up to 100 of these institutions.

These

draft surveys have been proposed following the FDIC’s consideration of comments on earlier

versions of the surveys.

ACB submitted comments on the earlier drafts in a letter to the FDIC

dated December 18, 2006.

The supporting statement the FDIC submitted to the Office of Management and Budget (OMB)

regarding the surveys indicates that the FDIC has “little systemic information about the features

of overdraft protection programs and how the features are related to the usage and the attendant

accrual of fees.”

The FDIC states that, as a banking regulatory agency charged with monitoring

bank compliance with consumer protection laws and regulations, the agency needs more

information about overdraft protection programs and the usage of such programs in order to aid

future policy making decisions.

1

America's Community Bankers is the national trade association committed to shaping the future of banking by

being the innovative industry leader strengthening the competitive position of community banks. To learn more

about ACB, visit

www.AmericasCommunityBankers.com

.

2

72 Fed. Reg. 5718 (Feb. 7, 2007).

Survey of Overdraft Protection Programs

Survey of Overdraft Protection Programs

Survey of Overdraft Protection Programs

Survey of Overdraft Protection Programs