Charging NSF fee when returning ACH item

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Question:

We have a savings account with an ACH that we are returning NSF. Can we charge the NSF fee if the ACH would have overdrawn the account?

Answer:

That depends. Do the TISA disclosures for your savings accounts include a disclosure of an NSF fee and the circumstances under which it will be imposed? If it's not in your TISA disclosures, is it in a list of fees that is handed out at the same time as the savings account TISA disclosure? Again, does the fee list describe the circumstances under which the fee will be imposed (and indicate that it applies to savings accounts)? If the fee and description are not disclosed at savings account opening, the answer is "No, you cannot charge the fee."

When checking your disclosures, keep in mind the current regulatory concerns about NSF fees, the potential for multiple presentments, etc.