TISA / Reg DD – What are the additional disclosure requirements related to promotion of the payment of overdrafts?

Compliance > Advertising / Marketing Misc. > TISA / Reg DD
Q:  What are the additional disclosure requirements related to promotion of the payment of overdrafts? 
 
A:  Institutions that promote the payment of overdrafts in an advertisement shall include in the advertisement the disclosures required by §1030.11(b) of this part. 
 
Excerpt from 1030.11(b):
 
(b) Advertising disclosures for overdraft services
 
(1) Disclosures. Except as provided in paragraphs (b)(2) through (4) of this section, any advertisement promoting the payment of overdrafts shall disclose in a clear and conspicuous manner:
 
(i) The fee or fees for the payment of each overdraft;
(ii) The categories of transactions for which a fee for paying an overdraft may be imposed;
(iii) The time period by which the consumer must repay or cover any overdraft; and
(iv) The circumstances under which the institution will not pay an overdraft.
 
 
 

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