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CUNA Mutual Group has released a new on-demand recording focusing on overdraft and non-sufficient funds (NSF) fee litigation. This is an area CUNA Mutual Group has been monitoring for the last several years to bring awareness to credit unions and help them reduce their risk for class action lawsuits. These types of lawsuits have cost the financial services industry millions of dollars, as well as reputational harm. While the lawsuits have slowed down some in 2022, credit unions are still being targeted.
Credit unions can view the webinar by visiting CUNA Mutual Group’s website. The recording is approximately 42 minutes long and covers the following topics:
- Common allegations and risk mitigation strategies
- Incorporating arbitration and class action waiver provisions in account agreements
- Placing membership agreements and other disclosures on credit union websites
CUNA Mutual Group also has additional resources for credit unions on its Overdraft / NSF Fee Litigation page.