Bank overdraft balance sheetBank overdraft accountingKeyBank overdraft opt inBank overdraftOverdraft feeKeyBank overdraft grace periodOverdraft protection KeyBankOverdraft facility

Overdraft Fee Rules - State of Michigan

文章推薦指數： 80 %
投票人數：10人

Overdraft protection service refers to a bank covering or paying an ATM withdrawal or debit card purchase that overdraws the consumer's account. Consumers are ... Skiptomaincontent UnsupportedBrowserDetected ThewebBrowseryouarecurrentlyusingisunsupported,andsomefeaturesofthissitemaynotworkasintended.PleaseupdatetoamodernbrowsersuchasChrome,FirefoxorEdgetoexperienceallfeaturesMichigan.govhastooffer.  SupportedBrowsers GoogleChrome Safari MicrosoftEdge Firefox OverdraftFeeRules OverdraftFeeRules AttorneyGeneral ConsumerProtection ConsumerAlerts OverdraftFeeRules OverdraftFeeRules TheFederalReserveBoardenactedrulesin2010prohibitingbanksfromchargingoverdraftfeesforATMwithdrawalsordebitcardpurchaseswhenaconsumerdoesnothavesufficientfundstocoverthetransaction,unlesstheconsumerhasaffirmativelyconsentedtothebank'soverdraftprotectionserviceforthosetransactions.OverdraftprotectionservicereferstoabankcoveringorpayinganATMwithdrawalordebitcardpurchasethatoverdrawstheconsumer'saccount.Consumersaregenerallychargedafeeforthisservice.Ifconsumerschoosenottohaveoverdraftprotection,transactionscausetheiraccountstogointoanegativebalancewillbedeclined. Theruleswentintoeffectin2010. BanksMustProvideNoticeofOverdraftProtectionServicestoConsumers   Beforeoptingintoabank'soverdraftprotectionserviceforATMwithdrawalsanddebitcardpurchases,consumersmustbeprovidedwrittennotice.Inadditiontoexplainingtheoverdraftfees,thenoticetoconsumersmustexplaintheirrighttoaffirmativelyconsenttopaymentofoverdraftsforATMwithdrawalsanddebitcardpurchases.Further,ifthebankoffers,asanalternativeforbankpaymentofoverdrafts,alineofcreditoraservicethattransfersfundsfromanotheraccount,thatinformationmustalsobeincludedinthenoticetoconsumers. Ifaconsumerdoesnotrespondtothenoticebyaffirmativelyconsentingtooverdraftprotection,overdraftswillnotbepaidbythebank. Theconsumermayoptintotheoverdraftprotectionserviceatanytimeinthemannerdescribedinthenotice.Theconsumermayalsorevokeconsentatanytime.Theconsumer'saffirmativeconsenttothebank'soverdraftprotectionserviceremainseffectiveuntilrevokedbytheconsumeroruntilthebankterminatestheservice.  BanksMayNotDiscriminateAgainstConsumersWhoChooseNottoOptintotheOverdraftProtectionServiceforATMWithdrawalsandDebitCardPurchases TheserulesonlyapplytooverdraftfeesresultingfromATMwithdrawalsordebitcardpurchases.BanksmaynotrequireconsumerstoacceptoverdraftprotectionforATMwithdrawalsanddebitcardpurchasesasaconditionforthepaymentofanyoverdraftsforchecksorothertypesoftransactions.Further,abankmaynotdeclinetopaychecks,ACHtransactions,orothertypesoftransactionsthatoverdrawtheconsumer'saccountbecausetheconsumerhasnotaffirmativelyconsentedtothebank'soverdraftprotectionserviceforATManddebitcardtransactions.Additionally,abankmustprovidetoconsumerswhodonotaffirmativelyconsenttothebank'soverdraftprotectionforthesetransactionsthesameaccountterms,conditions,andfeaturesthatitprovidestoconsumerswhoaffirmativelyconsent,exceptfortheoverdraftserviceforATMwithdrawalsanddebitcardpurchases.  Formoreinformation,readtheConsumerFinancialProtectionBureau’sreportontheoverdraftfeerulesandtheimpactonconsumers. ContacttheAttorneyGeneral’sOffice Forgeneralconsumerquestionsortofileacomplaint,youmayreachtheAttorneyGeneral'sConsumerProtectionDivisionat: ConsumerProtectionDivision P.O.Box30213 Lansing,MI48909 517-335-7599 Fax:517-241-3771 Tollfree:877-765-8388 Onlinecomplaintform Followus

請為這篇文章評分？

延伸文章資訊