Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Fed sets overdraft protection audio conference
WASHINGTON (12/2/09)--The Federal Reserve Board will discuss its recently enacted final rules on overdraft protections during its "Outlook Live" Audio Conference, which is scheduled for Dec. 10 from 1 until 2 p.m. ET. The Fed rules, which will come into effect on July 1, would require credit unions and other financial institutions to obtain consent from consumers before they could be charged overdraft fees for ATM and one-time debit transactions and also require credit unions and other financial institutions to fully disclose the overdraft services, the fees, and the consumer's right to opt-in to the overdraft program. Federal Reserve Managing Counsel David Stein and Attorney Dana Miller will detail compliance issues and respond to audience questions during the conference. The Fed said it plans to hold additional audio conferences on consumer compliance issues. While legislation that could address overdraft fees remains active in both the House and Senate, the Credit Union National Association has said that a regulatory approach to these issues is far preferable than legislative initiatives. To register for the audio conference, use the resource link.
Other Resources

RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow
32 minutes ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
1 hours ago
We really want to hear from our readers. Please take the News Now survey:
2 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow
3 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
4 hours ago