Fed Opts In on Opt-In for ATM Overdraft Protection
WASHINGTON — The Federal Reserve adopted new rules that will require credit unions and banks to obtain permission from customers-opt-in-for overdraft protection programs debit card and ATM transactions.
Bill Has One Small CU Worried About Future
GOLDSBORO, N.C. — Proposed legislation that would rein in overdraft protection programs and require credit unions to obtain written permission from members to opt-in to such programs is causing at least one CU to worry about its future.
Issue More Complex than Just the Fees
NORTH HIGHLANDS, Calif. — The CEO of SAFE CU here, which offers members a courtesy pay program, sees the issue of costs on such programs as more complicated than is generally recognized in many media reports.
Good Intentions Going In, But ...
HAMPDEN, Maine — As is often the case, it may have been good intentions going in, but that's not what's going to come out of Congress, one person observed.
Wisconsin CU Has Issues with Potential Provisions
MADISON, Wis. — One credit union here that seeks to help members avoid NSFs, has concerns over a number of the provisions being proposed in federal legislation to limit those fees.
Small Amount of Income Limits Concern
LITTLE ROCK, Ark. — At Telcoe FCU, concern over what limits on courtesy pay fees might mean to its bottom line is limited.
Change Would Not Be 'End of the World'
WINSTON-SALEM, N.C. — It doesn't take long for one person here to calculate the cost any limit on overdraft fees would be for his credit union.
Congress, Critics Missing Key Points
PLAQUEMINE, La. — All the talk of limiting or eliminating fees related to overdraft programs is missing a number of key points, observes one CEO.
