Closing an OD Protection Line - Give 30 Day Notice

Answered by:

Question:

Does the bank have to provide a thirty day notice to the consumer if they are closing an overdraft protection line?

Answer:

That depends on your contract language, whether you are closing it for delinquency or if you are doing away with the product. A review of Reg B 202.2 will give you what is and what is not adverse action.

First published on BankersOnline.com 11/17/08