Answer:
The Final Guidance governing Overdraft Payment Programs (ODP) has been issued and the amendments to Regulation DD will be enforced effective July 1, 2006; finalizing the regulatory framework under which these programs must be structured and administered. When these programs began to take shape over a decade ago, they were primarily administered through the customer's checking account. Most programs today, however, are more broad-based in the scope of the transactions they cover. It's common for discretionary overdraft services to now extend to ATM withdrawals and transfers, debit card transactions, and preauthorized automatic debits, as well as telephone initiated or "other electronic means".
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