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ABA Journalist Telephone Briefing
What Consumers Need To Know About New Bank Overdraft Rules
On July 1, 2010, new federal overdraft regulations will dramatically impact consumer use of debit cards. ABA retail banking expert, Nessa Feddis, ABA Vice President and Senior Counsel, explains how debit card operations will change, why a sudden jump in declined transactions could occur, and what consumers should know about the important decision of whether to "opt-in" for overdraft coverage or not.
The event includes a presentation, background materials, and an open Q & A session.
Click here to listen to recording. (42m15s)
Background Materials:
- New Overdraft Regulations: A Guide to Understanding Changes Affecting Debit Cards (PowerPoint handout for presentation)
- Overdraft Fact Sheet
- ABA Survey: More Consumers Avoid Overdraft Fees
- Model Opt-In Notice
