I am writing in regards to the Amendment to the Regulation DD
concerning the consumer overdrafts.
We at First Bank of Tennessee do not “Encourage” irresponsible
consumer financial behavior.
We encourage our customers to keep up with their checking account
balance and to only write checks if the money is in their account.
We at First Bank of Tennessee feel that the ODP program that we offer
is to only be used to keep from having the embarrassment of your
checking going back to a merchant and them having to pay additional fee
on top of the NSF fee charged by the bank. The embarrassment of being
posted by merchants as to “do not accept checks from?” is worst than
using the ODP program.
The monitoring of this program is watched very closely and we educate
our customers on how to keep from using this program by offering the
Auto Transfer from a saving account for a lesser fee if they choose to
sign up for this benefit.
Sincerely,
Connie McClendon
Vice President
First Bank of Tennessee
