NSF Fee Change Notice

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Question:

We are getting ready to change our non-sufficient funds (NSF) fee. What obligation do we have to notify our customers besides them getting the NSF notice after the check has been returned or paid?

Answer:

Reg DD requires you to notify all customers thirty days prior to the change going into effect. Refer to Section 230.5(a) and its commentary for more information.

First published on BankersOnline.com 3/09/09