Overdraft Fee and Credit Card Practices: New Regulations and Litigation Trends

Minimizing Litigation Exposure and Preparing for Heightened Regulatory Scrutiny

Recording of a 90-minute premium CLE webinar with Q&A

Conducted on Tuesday, November 2, 2010

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide counsel for financial institutions with an analysis of recent litigation and regulatory trends affecting overdraft fee and credit and gift card practices. The panel will discuss steps that institutions should take to achieve regulatory compliance and minimize litigation exposure.


Financial institutions are facing an onslaught of lawsuits challenging credit practices. In August, Wells Fargo was hit with a $203 million dollar verdict in a class action suit alleging unfair and deceptive business practices that caused customers to pay multiple overdraft fees.

With this success against Wells, financial institutions should anticipate further litigation. Institutions can take steps to minimize exposure, such as ensuring compliance with newly-amended Regulation E concerning customer consent and opt-in notice for overdraft protection plans.

In addition to the heightened scrutiny on overdraft fee practices, regulations implementing the CARD Act were effective this year. Class action litigation challenging CARD Act compliance measures is on the horizon.

Listen as our authoritative panel of financial services attorneys discusses litigation challenges to credit practices, recent regulatory developments impacting these credit practices and best practices for financial institutions to minimize their litigation exposure.



  1. Overdraft fees
    1. Federal regulations
      1. Regulation E
      2. Treasury Department “best practices” guidelines
      3. OTS guidance
      4. FDIC guidance
    2. Litigation trends and strategies
      1. Available balance litigation
      2. Resequencing litigation
      3. Electronic funds transfer litigation
      4. Class action litigation
  2. Credit, debit, prepaid and gift
    1. New federal regulations effective in 2010
    2. Impact of financial reform legislation
    3. Litigation trends


The panel will review these and other key questions:

  • Where have the overdraft fee cases been brought and what is the status of pending cases?
  • How will newly-amended Regulation E apply and what types of challenges can we expect?
  • What is the status of credit card litigation and what types of challenges can we expect to CARD Act compliance measures?


Barry Goheen
Barry Goheen

King & Spalding

He has served as lead or co-counsel in over 50 class actions in all areas of the law, including antitrust, securities...  |  Read More

Katharine F. Musso
Katharine F. Musso

Special Counsel
Jones Walker Waechter Poitevent Carrère & Denègre

She has more than 20 years experience representing banks and financial institutions before state and federal...  |  Read More

Kenneth C. Johnston
Kenneth C. Johnston

Kane Russell Coleman & Logan

Mr. Johnston practices in the Financial Services, Litigation, Insolvency & Creditor Rights Practice Groups...  |  Read More

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