Answer by Randy Carey: Not that I have heard about.
Answer by John Burnett: It's no secret that regulators -- the FDIC, in particular -- are practicing with their use of the Unfair or Deceptive Acts or Practices provisions of the Federal Trade Commission Act when they see ads they consider misleading. An ad might meet the requirements of the Truth in Savings Act regulations but still be judged misleading depending on what's included in or omitted from the ad, etc. However, there is no specific move that I am aware of to tighten up on the use of "free" when OD fees may be charged.
Just make sure that you review carefully the Official Staff Interpretations to Regulation DD's section 230.8(a), in particular Comment 10.
First published on BankersOnline.com 8/29/11