Are demand deposit loans or ready reserve accounts covered by the MLA? I have found information stating that deposit advance loans- overdraft lines of credit BUT not traditional overdraft services are covered loans. Looking for clarification on what is defined as a traditional overdraft service.

Isn't a "ready reserve" account an overdraft line of credit?? Typically they are, but you can't tell by the name - although the service provider that offers what they call a "ready reserve" would be a line of credit.

What do you mean by demand deposit loans?? You need to explain the products as product names mean different things to different people.

I apologize for not being clear. A "ready reserve and demand depoit loans" (for us) are small $ lines of credit that automatically sweep to the DDA account if there is an over draft. I am guessing that these are covered by the rule. I am also going to guess that the "traditional overdraft services" would be the limit we allow for the Reg E Opt-In.