Description
This course describes the scope and timing requirements of the Regulation E overdraft provisions. It explains how the rule prohibits imposing a fee for paying an ATM or one-time debit card overdraft unless the customer has received a notice explaining the bank’s overdraft program and fees, and has consented to pay the fee.
What You’ll Learn
After completing this course, students will be able to:
- Identify what accounts and transactions the overdraft rule covers
- Explain the opt-in requirements for covered debit card transactions