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PODCAST: NSF/Overdraft Related Demand Letters & Minimizing Risks

October 15, 2020


Over the past number of years, there has been a significant increase in the threat of lawsuits alleging improper assessment of overdraft and/or NSF fees. Plaintiff attorneys across the nation are targeting consumers to file suit against. In this podcast Cheryl Lawson, JMFA’s EVP-Compliance Review, and Jennifer Peoples, JMFA’s Director of Implementation offer additional information and practical advice on this hot topic.


Learn more about what these types of Demand Letters are and the components, what to do if your financial institution receives one and how JMFA can assist you. More importantly, you will gain a better understanding of the best practices, including precautions, existing tools, and support offered to proactively address any concerns and be prepared.



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0:51 – The components of a Demand Letter for NSF/overdraft related class-action lawsuits
1:35 – Takeaways from recent trend of letters issued
2:30 – What you should do if you receive a Demand Letter
3:34 – How JMFA will assist—forensic audit/data analysis, plus communication, disclosures, and more
5:06 – Real-world example
7:09 – Compliance Questionnaires and program communication help minimize risk
11:34 –Utilizing reporting features in Privilege Manager CRM® software
13:26 –Suggested call to action
14:50 –Final thoughts