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CUNA releases 12-question CU overdraft survey
WASHINGTON (4/23/12)—The Credit Union National Association (CUNA) is asking credit unions to share information regarding their overdraft protection programs, and overdraft transfer and marketing practices, through a short, 12-question CUNA survey.

CUNA developed the survey in response to an action by the Consumer Financial Protection Bureau (CFPB) earlier this year when it distributed questionnaires to financial institutions to help evaluate how those institutions' overdraft policies affect consumers.

In the CUNA survey, CUNA asks for basic information on the credit union's asset size, and what types of overdraft programs are offered to members.

More specific questions addressing how members are made aware of available overdraft protection programs and how members are alerted to the possibility that a transaction may trigger an overdraft fee are also among the survey questions.

The CUNA survey does not collect any identifying information, and credit union participation will be strictly anonymous. Responses must be received by CUNA by April 27.

The CFPB's overdraft project is particularly focused on addressing the practice of re-ordering purchases and payments to maximize overdraft fee charges, on whether consumers can anticipate and avoid overdraft fees, and on how differences in the way institutions explain and promote overdraft programs may affect opt-in rates.

The CFPB has said it plans to use overdraft comments from consumers, the financial services industry, and other interested parties to craft new overdraft fee disclosures and rules, assist with policymaking on overdraft practices, and to prioritize the bureau's regulatory and education work.

For the CUNA survey, use the resource link.
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