09/20/2010
We decided to not charge for debit card and ATM overdrafts, because we have had a few customers who have been abusing that, so we stopped their debit card. Now they are asking if they can get the card back and pay the fee. Can we allow them to opt in on a case by case basis?
09/13/2010
If a customer at a bank has the overdraft service, and has chosen to opt-out, we cannot charge, but if he chooses to opt-in, then we can. Is that correct? What if the customer doesn't have the overdraft service with us on his checking account? Can we charge with no overdraft service if he opts out? Can we charge with no overdraft service if he opts in?
08/16/2010
Per the new Reg E overdraft opt-in rules, can we charge a customer an overdraft fee if he has opted in, but we have not yet sent the opt in confirmation letter?
08/09/2010
I am looking for a sample of a script I can use for our front line employees to explain the opt-in requirement. We have had so many go off on their own tangent, further confusing things, that we need to bring everyone to same page so to speak.
08/02/2010
We are a bank that offers overdraft protection services, so we are definitely targeting this group of customers for opt-ins (i.e. sent notices, etc.) However, we struggle with what to do for those customers that are not enrolled in the program or for which the program has been revoked. We would like to have these customers opt-in as well, since that is the only way we will be able to charge for an inadvertent overdraft that might occur after 8/15. Everything I read says that we can't charge a fee without the customer opting in, and that this covers ATM/debit card transactions, regardless of whether they are part of an overdraft protection program, but nowhere is there guidance about what to do about those customers that do not participate in an overdraft protection program. Can we allow them to opt-in? If so, isn't this deceptive, because the only thing they are opting in to is allowing us to charge a fee?
07/26/2010
An article about Reg E and Overdraft fees in our local newspaper mentioned a change effective August 22, regarding a ban on charging inactivity fees. The article made it sound like this will affect savings and checking accounts. I have not read or heard anything else about this. Can you clear this up for me?
06/28/2010
Relative to the new amendment regarding Regulation E and overdraft fees, I was wondering how the new regulation will affect recurring overdraft fees.
06/28/2010
About Regulation E, 205.17(b)(3) Same Account Terms, Conditions, and Features: I thought about actually closing the card if the customer does not opt-in or closing the card if he had not opted-in, and have overdrawn the account for the second time. We won’t charge them those two times, but after the second one hits, we will shut the card off and will need them to opt-in. I feel that if we do not promote our debit cards with any account, but the customer has the option to add a debit card to a checking account, that we should be able to only give debit cards to customers that have opted-in. The regulation states that the “institution may not vary the terms, conditions, or features of an account provided to a consumer who does not affirmatively consent to the payment of ATM or one-time debit card transactions.” I do not think that the ATM or debit card is a term, condition, or feature of any of our accounts that we offer. It is a benefit that the customer may receive if he opens a checking account with us, but there is no obligation to any of our accounts that a ATM or debit card has to be acquired. It also states that we cannot offer consumers a PIN-only card if they do not opt-in. It is they just cannot get an ATM or debit card added to the account if they do not opt-in, do you think that this would be a violation or do you have any suggestions on how we could go about this?
06/21/2010
Do all banks need to send out the opt-in/opt-out forms if they do not plan on charging any fees on those types of overdrafts?
06/14/2010
Can a fee be charged for an off-line POS and an off-line ATM withdrawal if the customer is not enrolled in an overdraft protection program with Reg E?