If we advertise our overdraft product, which we currently do not, would a continuous overdraft fee be part of the total dollar amount of fees and charges paid or returned listed on the periodic statement?

The continuous overdraft fee is a daily charge to account holders if they continue with a negative balance beginning on the x business day.

Any account holder could receive this fee whether they have the overdraft protection or not.

It would have to be included:

OSC: 4. Fees for paying overdrafts.

An institution that advertises the payment of overdrafts must disclose on periodic statements a total dollar amount for all fees charged to the account for paying overdrafts. The institution must disclose separate totals for the statement period and for the calendar year to date. The total dollar amount includes per-item fees as well as interest charges, daily or other periodic fees, or fees charged for maintaining an account in overdraft status, whether the overdraft is by check or by other means.in the YTD totals, but would have to be separately itemized and disclosed.

If you by design or by happenstance fall under the rules found in Regulation DD, section 230.11, a continuous overdraft fee would be one of those fees that must be included on statements under paragraphs 230.11(a)(1)(i)(A) and 230.11(a)(1)(ii). Official Staff Interpretation 4 to 230.11(a)(1).

Such a fee would also have to be included in the advertising disclosures required by paragraph 230.11(b)(1)(i). Official Staff Interpretation 4 to 230.11(b).