I read the following in Dave Dickinson's
blog from July 3:
"Combined Balance" = my account + ODP/HELOC/OD LOC will get you a UDAP violation and FTC referral. No question.
I am not sure if Dave still posts here but I was looking for a little insight into this. My question stems from our Internet Banking site where the Available Balance includes ODP.
Is this something that will be going away? Will bank's no longer be able to provide an available balance that includes their true account balance plus ODP amount?
I was not able to find any guidance online so if someone has a link to anything I would appreciate it.
Thanks.