We do not offer an overdraft protection program, but we were among those banks that were providing the Model Form A-9, and having customers opt/in or opt/out. Due to the FDIC change on the ruling, we are no longer providing this notice, or having customers opt/in or out. We also do not charge of any ATM/debit Pos transactions that may cause an overdraft. Should we notify those customers who opted/in of our procedural change, and offer to reimburse?

Although the FDIC has not reduced anything to a public writing, the information circulated by the ABA concerning the FDIC's current stance said that the FDIC would suggest that you consider going back and refunding any fees you'd charged these customers for ATM or one-time POS transactions that overdrew their accounts, but would not push the issue. They want you to consider the litigation and public relations risks that could be associated with not refunding the fees.

And no one pretends to think that figuring out exactly what the refund amounts ought to be is easy.

John thanks for the input. Even if we decide not to refund, should we still notify the customers that they no longer have to opt/in or opt/out.

Actually, the only change in your procedures is that you would not charge them a fee if they overdrew their account via a one time debit card or ATM transaction. Their opt-in was an illusion.

While I don't believe there is any requirement for a notice, if you want to send something indicating the opt-in is no longer available I suggest you send it to everyone who was solicited for an opt-in, not just those that did.

thanks Ken.