Overdraft Fee Notification Act

Summary

Overdraft Fee Notification Act - Amends the Electronic Fund Transfer Act to prohibit a financial institution from imposing any fee or charge for consumer overdraft protection unless it notifies the consumer, in a specified manner, of the fee or charge for such protection before the transaction that would result in an overdraft is completed. Requires such notice for all in-person, automated, telephonic, and Internet-based financial transactions. Requires financial institutions to disclose to the consumer in periodic statements the annual percentage rate of interest which any overdraft protection fee or charge represents.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 March 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 12 March 2009

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• Introduced in House

  summary · EN · 12 March 2009

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