Can a POS transaction be returned for insufficient funds and charged an overdraft fee if our bank does not offer overdraft protection? Would there
be a benefit for a customer to "Opt In" if we continue to not offer overdraft protection?
If a personal checking is protected by a second personal checking (sweep) for the purpose of Overdraft Protection should the child account reflect the
available balance of both accounts?
We have just started with e-statements. Our overdraft protection statements have the same account number as the checking account it is attached to and are created at the same time as checking accounts. Are the Reg E and Z disclosures that we provide with each ODP statement going to be required on every ODP e-statement? Is that also true for the checking statements for Reg E?
Is there a regulatory limit on the number of overdraft charges that can be applied in one business day?
May an advertisement mention the term “free” with respect to a financial institution’s overdraft services?
On a reserve line of credit tied to a DDA account. Is it necessary to provide a monthly statement when there is no activity? Zero balance, no advance nothing owing.
Can a bank discontinue an AOD program after it's been in place for several years?
When an advance is made on an overdraft line of protection is a notice (advance notice) required to be sent to the Borrower? If so, which regulation does this fall under?