FDIC Federal Register Citations

FIRST BANK OF TENNESSEE

From: Connie McClendon [mailto:cmcclendon@firstbanktn.com]
Sent: Friday, July 16, 2004 2:18 PM
To: regs.comments@occ.treas.gov; Comments
Subject: "Overdraft Protection Guidance" Docket No. 04-14

To Whom It May Concern:

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