I thought I had read that if an account with Overdraft Protection remained in an overdrawn status we had to close after 30 days. I can't seem to find anything on this.

Any guidance would be appreciated.

I'm kind of guessing here, but I thought that was outlined in your contract - I didn't think that was a Reg disclosure - however, we don't use ODP(Protection), rather we use ODP (Privilege)so maybe that's the difference.

When you say close, are you meaning charge off? In the recent guidance issued by the regulators you should charge off the balances when considered uncollectible, but no later than 60 days from the date of first overdrawn (45 days for credit unions). Look into the Federal Register mid to late May '05 (I believe) in the Safety and Soundness section.

General is correct. In the ODP guidance issued this past spring, no later then 60 days from date of first OD is recommended.

YES! Thank you. I did mean charge off. I will look in the Federal Register.

Thank you so much!

Of all things....I've been restricted from this website. Today is the day from He!!.