For Regulation O purposes are NSF and OD fees the same thing?

I am seeing a couple insiders being charged NSF fees. In these cases, the charges are being returned. Therefore, their account is not overdrawn. Does this matter from a Reg O standpoint? Or does it just matter if the customer's account is being overdrawn and fees are being charged?

If the bank is not paying the overdraft it is not a Reg O issue.

So for Reg O purposes should I look at NSF fees? Waiving these fees?

I just want to make sure I understand this -

Since our insiders do not have overdraft protection, when they present a check that is more than their available balance, we just return the item. We charge the insider an NSF fee and not an overdraft fee as their account never went into the negative. No issue? If we charge them an NSF fee and we waive it, is this a regulation o violation? What happens when an NSF fee assessed to an insider would cause the account to go negative? I am having a terrible time understaning how NSF fees are viewed under regulation o!

An NSF fee as you described it has nothing to do with Regulation O. No overdraft = no Regulation O.

If this is happening on more than an absolutely rare occasion, you have the wrong people as EOs or on your board.

^^^^^I was just thinking that! Oh, no, I'm starting to think like Randy^^^^^