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#576848 - 06/28/06 03:12 PM more DD
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
Is it still okay to say NSF? Or do we have to spell it out. We have identified what NSF is, but is the acronym okay to use on statements?
My opinion is mine only- not my employer's!

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#576849 - 06/29/06 02:47 PM Re: more DD
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
You can use an abbreviation on statements if you include that same abbreviation in your disclosures when you explain what it means. While I think we all agree that the abbreviation ought to be fairly self-explanatory, you could theoretically list an "ZYX Fee" and explain in your disclosures that it's a fee for returning unpaid items that would overdraw or further overdraw the customer's account.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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