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.