Answer by Randy Carey: 1005.17(b)(3) Same account terms, conditions, and features. A financial institution shall provide to consumers who do not affirmatively consent to the institution's overdraft service for ATM and one-time debit card transactions the same account terms, conditions, and features that it provides to consumers who affirmatively consent, except for the overdraft service for ATM and one-time debit card transactions.
Answer by John Burnett: You cannot deny the debit card request based on the customer's failure to opt in. You can establish a policy regarding the use of a debit card that provides for card cancellation in the event of excessive overdraft activity via the card (but you would have to apply the policy evenhandedly to opted in cardholders and those who have not opted in).
First published on BankersOnline.com 1/28/13.